Home » Business » Green light to the VeRa algorithm, so the tax authorities can find more tax evaders: how it works

Green light to the VeRa algorithm, so the tax authorities can find more tax evaders: how it works

He got the green light from the Minister of Economy Daniele Franco and by the Privacy Guarantor the new generation tool in the hands ofRevenue Agency to find the “crafty” of the tax authorities. As reported The print, VeRa (Verification of financial reports), this is the name of thealgorithm, will look for anomalies between income, current accounts, taxpayers’ homes, movements made with electronic money and digital purchases, up to the point of controlling the number of accesses to the safety deposit boxes. According to experts, with VeRa he will score a big step forward in the fight against tax evasion. Because not only will the analysis process become faster, but the amount of data analyzed will greatly increase, without compromising the privacy of citizens.

The mechanism

The system, in fact, in a first phase will screen the data anonymously. In a second phase there will be a list with the names of taxpayers at risk of evasion, subjected to a human evaluation, which will make assessments in terms of euro evaded and no longer, as had been done in past years, generating errors and criticisms, of tax coefficients . From here we will then proceed to stimulate the suspected tax evaders to fulfill their duties or, if necessary, to a real fiscal control. In any case, the tax evader will be protected from all forms of contradictory required by law. “With this new tool the tax assessment capabilities will grow a lot – he explains Carlo Garbarino, professor of Tax Law at Bocconi University -. It is therefore reasonable to think that the areas of evasion will be significantly reduced ».

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