Taxman to effect large-scale audit of electronic banking operations
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    Taxman to effect large-scale audit of electronic banking operations

    The Special Tax Inspectorate is to check all payments made by bank and credit cards, via the operator Worldline. The objective is to trace accounts hidden in tax havens. This was reported in De Tijd on Saturday.

    Payments may lead to foreign bank accounts, which are concealed within intermediary companies.

    From Monday, the Special Tax Inspectorate will go over some 1.8 billion annual payments per year with a fine toothcomb, working with Worldline.

    Neither the Finance Minister Johan Van Overtveldt (of the New Flemish Alliance) or the spokesperson from the Special Tax Inspectorate wished to discuss this mammoth task.

    The Special Tax Inspectorate announced its visit to Worldline, due to take place on Monday, well in advance.

    This large-scale audit is a first for Belgium and has aroused controversy. Its critics are currently evoking respect for privacy and banking secrecy.

    Christopher Vincent
    The Brussels Times