Independent Authority for Public Revenue Seizes €124 Million From Debtors’ Bank Accounts in 2016

On Monday, Deputy Finance Minister Katerina Papanatsiou presented data to Parliament disclosing that in 2016 the Independent Authority for Public Revenue confiscated a total of 124 million euros worth of bank deposits of state debtors.

The data also showed that throughout 2016 the tax administration managed to draw off the deposits of some 188,226 tax payers who all held debts to the state.

In all, the finance ministry data concluded that authorities carried out 11 property auctions where the total value of the assets auctioned amounted to 8.47 million euros. However, the total debt held by the owners who saw their properties auctioned amounted to 42.7 million euros.

These compulsory collection measures taken by authorities have become more common over the past years as the data revealed that some 839,056 debtors have been forced to pay expired debts. For 2017 the ministry plans to crack down further on expired debts of an additional 1.65 million taxpayers who may very well undergo the same compulsory measures, the data showed.


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