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Monday, January 23, 2012

Taxing for the tax-evading

Greece names and shames alleged top tax evaders - National Business - MiamiHerald.com: "ATHENS, Greece -- Debt-crippled Greece has named some 4,000 alleged tax dodgers, including a former media magnate and a prominent entertainer, with the worst offender owing the state nearly euro1 billion ($1.3 billion).

But much of that money might never be reclaimed, as some of the top offenders are in prison or their companies are bankrupt.

The list published by the Finance Ministry late Sunday is part of a campaign to crack down on rampant tax evasion, which - coupled with inefficient tax collection - is hampering the recession-hit eurozone member's painful efforts to avoid bankruptcy.

At the top of the list was a 58-year-old accountant, currently serving terms of more than 100 years in prison for tax fraud, who allegedly owes some euro950 million. Most of that sum, however, is in surcharges and fines.

At least another three people convicted over the same scam figure high on the list, which includes debts of more than euro170,000 ($221,000)."

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