Wealth declarations, essentially “where did you get this from?”, represent transparency at least regarding Greece’s political scene. The declaration of assets, however, is not just a duty for politicians. It applies comprehensively to people holding positions of responsibility in the public sector, as well as certain private sector roles. Additionally, it aims to upgrade the quality and effectiveness of audits conducted by authorities.
Wealth declarations: Who is required to file
The filing obligation applies to a wide range of individuals, with emphasis on the public sector, as well as specific private sector categories.
Specifically, those required to file include:
* In the Public Sector: Political figures, general and special secretaries, Local Government officials, as well as civil servants holding positions with auditing or financial responsibilities.
* In Justice and Security Forces: Judicial and prosecutorial officials, members of the State Legal Council, as well as leadership of the Armed Forces and Security Forces.
* In the private sector: Employees and executives in key positions, such as in the financial sector (e.g., Bank of Greece), in Mass Media (owners, journalists), as well as individuals managing sports federations or active in the medical sector.
What must be included
During the process, those obligated must record:
* Total income from every income source.
* Real estate and property rights.
* Stocks, bonds.
* Bank deposits and safety deposit box rentals (in Greece and abroad).
* Vehicles (cars, boats, aircraft).
Filing is done digitally through www.pothen.gr using TAXISNET codes. Every new acquisition must be declared accurately (method of acquisition, value) and accompanied by corresponding documentation. The initial declaration must be submitted within 90 days of acquiring the obligated status.
Penalties for late or non-filing
If the declaration is filed late, the obligated person must pay a fine reaching 400 euros, depending on the days of delay.
In cases where the declaration is not filed at all, the procedures of articles 26 and 27 of the relevant law are activated, concerning the operation of auditing bodies. These include disciplinary prosecutions, while consequences can reach property seizure or even imprisonment.
