A new bill on the declaration of financial interests has been submitted to parliament, introducing changes to the framework for this declaration of income.
The relevant committees of parliament will discuss the proposed provisions in the new bill on the declaration of financial interests, the so-called “ΠΟΘΕΝ ΕΣΧΕΣ”, which concern asset declarations and declarations of financial interests, before putting it to a vote in the plenary session.
According to the new law, the following will be subject to control: spouses and partners of obligated persons, since now spouses, separated spouses or persons with whom obligated persons have entered into a civil partnership are obliged to file a POTHEN ΕΣΧΕΣ, regardless of whether they are Greek citizens, whether they reside permanently in the country or not, whether they are tax residents of Greece, whether the marriage or civil partnership was concluded in Greece or abroad.
Even if the above persons do not have AFMthey will be issued a special AFM for filing the declaration. Please note that the declaration obligation now applies to assets regardless of whether they are located in Greece or abroad..
In addition, the transmission of data will be automated, which will expand the range of data subject to verification. In particular, in addition to data from the latest income tax return, data on real estate, the amount of balances in deposit accounts, payment accounts, accounts for storing precious metals and coins, safes, vehicles of any purpose, water and air transport, insofar as these data are stored electronically in AADE and in the Vehicle Registry of the Ministry of Infrastructure and Transport, data on the ownership of shares in companies or enterprises of any kind, insofar as these data are stored electronically in GEMI (except for data related to limited liability companies), as well as data on debt obligations of any kind of responsible persons, will be automatically transmitted. if each of them exceeds the amount of 5,000 euros.
However, there is a “loophole” for banks (without clients) that will allow them to be exempt from the obligation to automatically transmit data under certain conditions. To do this, they will have to submit a corresponding affidavit, and penalties will be imposed in the event of false data.
On the other hand, all financial institutions and credit organizations, including branches of foreign credit institutions and financial institutions, provided that they have individuals as active clients, will be required to transfer to the application all available data on specific assets for both initial and annual reporting.
Finally, it is worth noting that, with the exception of politically exposed persons, those who acquire the status of a responsible person between 28.02.2023 and 30.09.2024 are exempt from the obligation to file an initial return if they have filed an annual return for the 2021 financial year and must file an annual return for the 2022 and 2023 financial years.
For those interested in this topic, we recommend an extended publication in a specialized edition. taxheaven.gr
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