Begins electronic monitoring Interest Income - Tribune Online

The obligation of banks and providers of investment services to send annually electronically to the General Secretariat for Information Systems of the Ministry of Finance states the interest acquired by the customers and the amount of tax withheld, provides decision of the Minister of Finance Mr. G. Mavragani published Tuesday in the Journal Gazette. The decision will be activated immediately, as the day after tomorrow until Friday, June 21 parties are required to send the data of 2012 in GSIS.

Although the decision Mavragani invoked to send these items for facilitation of intersections conducted by the Finance Ministry to combat tax evasion and achieve tax compliance, but is primarily associated with updating database with GSIS elements of interest of taxpayers to allow pre-filling the form E1 for those who have interest cumulatively exceed EUR 250 (note that the interest in the tax return ‘break’ in net amounts listed codes 659 660 and taxed amounts entered codes 433,434).

According to the decision, the banks, including branches of foreign credit institutions and services providing investment services, are required to forward to the GSIS situations in electronic file containing the information to beneficiaries of joint holders (name, surname and A . M.S.), the amount of credit and debit interest on deposits and repos acquired during the previous year, and the amount of tax withheld.

interest for deposits denominated in euro as rate for conversion to the euro will take the value of credited interest in foreign exchange or spot price of the card exchange rates of the European Central Bank on the last working day of year reference.

The transmission of data will be made directly to the GSIS secure file transfer system. The file specification, the method of transmission and the transmission schedule file will be posted promptly on the website of the General Secretariat for Information Systems.

Data on interest will be sent to the GSIS once a year and no later than February 28 of the following year the reference year (until February 28, 2014 the next mission). Especially for first-Decision stipulates that the mission of the data files will be up to 21 ^the June 2013.

As highlighted banks and investment companies will retain the information that is sent to GSIS in the form in which the dispatch for at least 15 working days. The Ministry of Finance will maintain this information for six years.

Failure to comply with the above obligations will be imposed by the Minister of Finance administrative fine of 5,000 euros to 100,000 euros, depending on the seriousness of the offense and possible relapse.