Greece’s finance ministry on Friday announced that it will focus its efforts to boost tax revenues on 14,700 taxpayers with outstanding debts of more than 150,000 euros each. The total outstanding overdue tax debt owed currently stands at 41.1 billion euro, of which 37 billion euros is owed by the specific 14,700 taxpayers. It also announced rapid tax inspections for all taxpayers with large real estate property or high annual turnover.

These decisions were taken during a broad meeting of finance ministry officials chaired by Finance Minister Evangelos Venizelos. The aim is to effectively deal with lower tax revenues and to creating new mechanisms which will facilitate procedures to achieve fiscal targets.

Ministry figures showed that roughly 900,000 individuals and enterprises owed around 41.1 billion euro to the state in taxes and fines. Those owing less than 150,000 euros have an outstanding tax debt totaling 4.1 billion euros and the remaining 37 billion euros in outstanding tax debt was owed by 14,700 taxpayers.

Ministry inspections will focus on those 14,700 taxpayers initially. Inspections will be a priority and will be made with the help of outside advisers (lawyers, accountants and auditors).