The new Greek government is drafting new legislation to give the Financial Crimes Squad (SDOE) greater powers to battle tax evasion. SDOE can now impose penalties on tax evaders and at the same time can negotiate with suspects and offer incentives so that can repay their debts quickly. According to the new law, SDOE officials can issue penalties directly to tax offenders. On the issue of lost state revenues from taxes, Alternate Minister for Combating Corruption Panayiotis Nikoloudis said he is optimistic that the government can quickly raise some 2.5 billion euros in revenue by targeting 3,500 tax evaders who have already been identified by SDOE. The individuals and businesses have not yet been issued with penalties by tax authorities.
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