Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
04-27-2012, 04:52 AM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Greece to Seize Money From Suspected Tax Evaders' Accounts, Charges and Trials Later
Friday, April 27, 2012 1:52 AM
Greece to Seize Money From Suspected Tax Evaders' Accounts, with Charges and Trials Later; More Capital Flight Coming Up
There can be little doubt of fraudulent tax avoidance in Greece. However, the Greek solution (seize money first, then place charges and hold trials later) leaves a lot to be desired.
Please consider Greece to seize money from suspected tax evaders' accounts
The Greek government is to begin seizing money from the bank accounts of suspected tax evaders, Finance Minister Filippos Sachinidis told Skai TV on Thursday.More Capital Flight Coming Up
Sachinidis said that the relevant authorities have been instructed to seize the amount that account holders are suspected of owing to the state. The minister said that this would happen before suspected tax evaders go on trial.
Banks, insurance companies and the stock market will have to submit the full details of transactions by taxpayers so that the ministry can draft a property profile for each person and compare it with the tax statement submitted.
Public and private hospitals to send information about the doctors they employ and their activity.
Private insurance companies as well as social security funds must supply in electronic form all the statements they issue to their clients or beneficiaries for tax purposes, showing the taxpayers’ payments and contributions, while utilities, including cell phone networks, must supply account data such as total annual bills.
Credit card companies will also have to submit data on transactions in Greece for cards issued not just in this country but also abroad.
Anyone with any common sense has already pulled all of their money out of Greek banks. However, the unthinking masses probably have not. This move will without a doubt cause more than a few to worry about accusations, true or false, and in the case of the latter, the illegal confiscation of money.
Expect to see a further plunge in money kept at Greek banks. Also expect capital flight of another kind: human capital. With this kind of crackdown, anyone capable of leaving would be wise to leave Greece immediately.
Mike "Mish" Shedlock
Mish's Global Economic Trend Analysis
Mish's Global Economic Trend Analysis: Greece to Seize Money From Suspected Tax Evaders' Accounts, with Charges and Trials Later; More Capital Flight Coming UpJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Long Beach Declares Public Health Emergency Due to ‘Surprising’...
05-04-2024, 07:58 PM in illegal immigration News Stories & Reports