Finance Minister Euclid Tsakalotos stresses need to combat tax evasion

epa05271960 Greek Finance minister Euclid Tsakalotos prior to the meeting of the Eurozone Finance Ministers at the Scheepvaartmuseum in Amsterdam, The Netherlands, 22 April 2016. Eurozone ministers met to discuss the Greek bailout and the Panama Papers fallout. EPA/BART MAAT

Finance Minister Euclid Tsakalotos on Monday stressed the need to combat tax evasion in order to increase tax revenues and reduce tax rates.

Tsakalotos was addressing a conference of the Independent Public Revenues Authority on the dispute resolution and the protection of tax payers.

The Finance Minister explained that the times when economic forces were uncontrollably tax evading has come to an end. “For many years, revenues in Greece were below the European average of 6-7 pct, a fact that was also considered legal tax evasion. This period has come to an end, the revenues must increase so that the tax rates are reduced,” he said.

He also stressed the importance of examining the issue of dispute resolution that is critical for the relations between tax payers and tax authorities. Referring to his meeting with the Bavarian State Minister for Finance, Dr. Markus Söder, he said that it aims to the provision of technical aid on our tax system.