Tax auditing mechanism expanding to electronic 'wallets' and foreign banks
The Independent Authority for Public Revenue (AADE) announced the strengthening and expansion of its asset increase control mechanism BANCAPP (Bank Account Nexus Crosscheck Application), in order to receive taxpayer banking data not only from Greek banks, but also from branches of foreign credit institutions, or from payment institutions and electronic money institutions, which operate in the country.
The change concerns the “ Obligated Parties” for data transmission to BANCAPP. In addition to Greek credit institutions, the system will also include branches of foreign banks in Greece, as well as electronic “ wallets” provided that (a) they operate in Greek territory, with or without a physical establishment, and (b) they are registered in the Register of the Bank of Greece.
For each control request submitted through BANCAPP, AADE receives a response from all Obligation Parties. That is, the response is mandatory and universal, covering all entities that fall within the scope of the regulation.
