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Greeks Must Declare Non-Bank, Personal Assets – Who’s Next?

from The Daily Bell:

Greeks told to declare cash “under the mattress,” jewelry and precious stones … When earlier today we read a report in the Greek Enikonomia, according to which Greek taxpayers would be forced to declare all cash “under the mattress” (including inside) or boxes that contain more than 15,000 euros as well as jewelry and precious stones (including gold) worth over 30,000 euros, starting in 2016, we assumed this has to be some early April fools joke or a mistake … It was not a joke. – ZeroHedge

Dominant Social Theme: Greeks have been spendthrift and now they must exercise financial discipline – and the state will enforce it.

Free-Market Analysis: The great asset-stripping continues. It doesn’t make much sense, does it? Austerity, taxation and confiscation of assets are not providing Greece with a healthier economy. How could they?

Is there a reason to continue to pound the Greeks? Well, perhaps so …

A little more from ZeroHedge:

Cash “under the mattress” totaling more than 15,000 euro, jewelry and other valuable items such as diamonds and gemstones, should be declared to electronic system of tax authorities, Taxisnet, as of 1 January 2016.

Next to properties and vehicles and shares, now the taxpayers will also have to declare their deposits. And not only that. They will have to fill if they rent bank lockers and if yes, also the name of the bank and the branch, even if abroad.

A joint ministerial decision issued by the Ministries of Justice and Finance indicates that taxpayers in Greece should add all their valuables into a new category of the tax declaration, the “Assets declaration.” Specifically, the decision provides that: “Assets declarations” are submitted electronically and mandatory via Taxisnet.

The declaration is fairly broad-based, according to ZeroHedge, and totals some 56 pages. The justification is simple: support for the Greek economy and the country’s economic health.

Read More @ TheDailyBell.com

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