Up to 50% Reduction in fines for tax violations

The provisions of the new Tax Procedures Code that was filed yesterday for a vote in the Hellenic Parliament include a significant reduction of fines for tax offenses even with a retroactive effect.

The rationale is that tax penalties may be smaller, but will be easier and quicker to collect.

Fines will be reduced up to 50% in the case of false invoices for high value or non issuance of receipts, which, as Finance ministry clarifies, is linked with attempts to limit the unrecovered taxes and not a gift or reward to tax evaders.

Under the provisions of the bill, filed yesterday in parliament, the lighter penalties for tax evaders may have a retroactive effect, which means they will be active from to the publication of the law (in August) rather than January 1, 2014, when the Tax Procedures Code will normally be implemented.

Τhus, taxpayers who have already been imposed sanctions can get away with shorter sentences. And this because the provisions of the bill allow those who are guilty of infringements by the time of publication of the law to choose the most favorable arrangements.