Greece Cracks Down on Tax Evasion: 2.8 Million Under Scrutiny

Greek Tax Authority Targets Millions in Evasion Probe A major tax evasion investigation is underway in Greece, targeting 2.8 million individuals. The Greek tax authority, AADE, is focusing on those who declared incomes between \u20ac10,000 and \u20ac20,000 annually but had spending patterns indicating much higher earnings. "We're talking about a significant number of people," stated a financial expert interviewed in the report. "Their declared income simply doesn't match their lifestyle." The investigation utilizes data analytics to compare declared income with spending habits, revealing a substantial gap in many cases. One example cited involved individuals declaring incomes under \u20ac10,000 yet spending over \u20ac100,000. The AADE is employing new digital methods to analyze financial transactions, aiming to improve tax compliance and close the tax gap. The investigation is expected to have significant implications for the Greek economy and may lead to substantial tax revenue recovery. The use of advanced data analytics represents a significant step forward in combating tax evasion. This initiative demonstrates a commitment to financial transparency and fairness within the Greek tax system.