Judiciary of the Administrative First-Instance Court of Athens regarding the opening of bank accounts with joint holders and accretion of property of taxpayers with residence abroad

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According to the Administrative First-Instance Court of Athens, the amount deposited in a joint account, which is not related to incomes included to the tax authority by the joint holders of the bank account, or by any other source or cause, is considered as an income of the specific joint holder of the bank account. The following are included amongst these:

• Charges of the joint bank account, with a money transfer from it to a personal bank account held by the joint holder, or by bank account of Personal or Capital company to which he holds shares, or to a bank account with which he conducts professional/financial transaction
• Transfer of amounts from personal to the joint account of the joint holder
• Withdrawal of amount from the joint account for purchases through credit or debit card or any other expense

Regarding the relative financial administration or any other mutual financial aid, the individuals are not exempted by the responsibility to provide explanations to the tax authorities, regarding substantial amounts of money, so that the Administration may examine the tax obligation.

In case the mentioned credits are related to incomes of unknown source, independently from the place of tax residence of the taxpayer, the provisions of articles (1)21 and (1)14 of Double Taxation Agreement between Greece and Italy. Therefore, this income is taxed to the contracting party who acquired it.