Cross-checking process to start

The Finance Ministry has finally decided to go ahead with the effective cross-checking of financial transactions through the electronic software it possesses.

On Wednesday it informed financial institutions such as banks, insurance companies and the stock market that they will have to submit the full details of loans accounts and other transactions by taxpayers so that the ministry can draft a property profile for each person and compare it with the tax statement submitted.

It has also ordered 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.

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