On 13 October 2026, AADE Governor George Pitsilis disclosed that during 2024, Greece exchanged financial account information on 171,000 accounts with a combined value of EUR 13 trillion under the Common Reporting Standard (CRS) and the EU Directive on Administrative Cooperation (DAC2). The data exchange involved 102 partner jurisdictions and was facilitated through the OECD’s Multilateral Competent Authority Agreement (MCAA) and the EU’s secure communication network. The figures represent a 28% increase in account count and a 35% increase in asset values compared to 2023, reflecting expanded participation of financial institutions and improved data quality. AADE cross-matched the inbound data with domestic tax returns, identifying 12,400 high-risk cases for audit, with projected additional revenue of EUR 1.2 billion.
Key Takeaways
- Massive Scale of Offshore Holdings: The EUR 13 trillion in reported assets underscores the significance of automatic exchange of information (AEOI) in combating cross-border tax evasion and provides a rich dataset for risk profiling.
- Enhanced Analytics and AI Screening: AADE deployed machine learning models to cluster accounts by beneficial ownership structures, detecting complex trust and corporate layering schemes that were previously opaque.
- Upcoming DAC7 and DAC8 Expansion: Greece is preparing for the implementation of DAC7 (digital platform operators) and DAC8 (crypto-asset reporting) from January 2027, which will further broaden the scope of reportable financial assets and taxpayers.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement