Greece Mulls Levy on Undeclared Deposits to Raise Cash

26-May (AP) — Greece is considering a 15 percent levy on undeclared foreign deposits, and double that rate on undeclared deposits in domestic banks, as an enticement for tax-dodgers to legalize assets.

Finance Minister Yanis Varoufakis says he is also thinking of imposing a charge on cash withdrawals from bank ATMs and on over-the-counter transactions, to encourage electronic banking and fight widespread tax evasion.

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