Greece Tries IT Approach to Fight Tax Evasion

The Greek Government have appointed a former Lehman IT specialist with the difficult task of modernizing Greece’s tax system, which is at the core of the massive tax evasion.

Harry Theoharis was appointed Secretary General for Public Revenue — a powerful job Athens created at the behest of its European Union and International Monetary Fund lenders. His job is to rid the tax service of political meddling and remove underperforming officials as part of reforms prescribed in the bailout deal keeping Greece afloat.

It will be interesting to see if this new approach by Greece bears fruit.

Previously as chief of the finance ministry’s data service, he introduced innovations such online payment of road taxes. An avid user of Twitter — where he described himself as the IT monkey — he tweets taxpayers at one in the morning and yet appears clean-shaven on TV talk shows six hours later.

“The budget and the bailout plan are setting clear targets. Everybody will be measured against them, every quarter,” Theoharis said in an interview at his modest office in the finance ministry.

His appointment shows a realization that computerizing the antiquated, paper-based tax administration is the way to cross-check scattered data and help to uncover large-scale tax fraud.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza