ARTICLES
Extensions of asset declaration deadlines: The exception that appears to have become the rule
A. In February 2023, Law 5026/2023 (“Submission of Asset Declarations and Declarations of Financial Interests…”) was enacted, effectively repealing almost the entirety of Law 3213/2003 and establishing a new principal legislative framework for matters related to asset declarations. Article 18(1) of Law 5026/2023, in line with the provisions of Article 1(2) of the now-repealed Law 3213/2003 (as amended), sets out specific—and exclusive—deadlines for the submission of asset declarations. More specifically, this provision (as in force until its amendment by Law 5130/2024) stipulated that: (a) the initial asset declaration must be submitted within ninety days from the date of assuming office, and (b) the annual declaration must be submitted within a strict deadline of three months following the expiration of the income tax return submission deadline. It is noted that, following the amendment of Article 18 by Article 8 of Law 5130/2024, the deadline for the initial asset declaration is now set at ninety days from the sixteenth day of the month following the month of assuming office, while the deadline for the annual declarations remains unchanged at three months after the income tax return deadline.
Β. In the years 2020, 2021, and 2022, a series of provisions were enacted granting extensions to the submission deadlines for the asset declarations of 2020 (fiscal year 2019), 2021 (fiscal year 2020), and 2022 (fiscal year 2021), respectively, by way of exception to the rules set out in Law 3213/2003 (see further 1, 2, 3). Similar “exceptional” provisions extending submission deadlines were also adopted in 2023 and 2024, following the enactment of Law 5026/2023. Specifically, it is noted that:
a) In November 2023—just a few months after the enactment of Law 5026—a legislative amendment (No. 45/14/30-11-2023 ) was tabled in Parliament. Article 2 of this amendment, titled “Extension of Deadline for Submitting Asset Declarations…” and ultimately adopted as Article 119 of Law 5072/2023, provided for the addition of paragraph 7 to Article 44 of Law 5026/2023 (transitional provisions), which laid out exceptions to the existing deadlines for submitting asset declarations.
According to the regulatory impact analysis accompanying the amendment, the extension was deemed necessary in order to ensure a smooth and secure transition to the new framework introduced by Law 5026/2023 regarding the submission process of declarations, and to guarantee the effective functioning of the new electronic platform without issues that would impose additional procedural burdens on individuals or generate interpretive doubts about the validity of the declarations. Additionally, the analysis noted, the proposed regulation would introduce an exception to the deadlines set out in the first and fourth sentences of Article 18(1) of Law 5026/2023 regarding the timing for submitting an Asset Declaration, and in Article 23 of the same law regarding the Financial Interest Declaration. For these reasons, the intervention in Law 5026/2023 is made in Article 44 through the insertion of paragraph 7, due to the transitional nature of the provision, proposed exclusively in light of the initial operation and implementation of the new submission system for the relevant declarations”.
Finally, it is noted that the above amendment was both unrelated to the original legislative proposal and submitted after the deadline for submitting amendments had already expired (see more here).
b) In June 2024—just days before the submission deadline established by Article 119 of Law 5072/2023—Parliament received legislative amendment No.182/45/19-6-2024. Article 1 of this amendment, titled “Submission of Asset and Financial Interest Declarations” and ultimately adopted as Article 68 of Law 5113/2024, provided, among other things, for further extensions of deadlines for submission of asset declarations and financial interest statements.
According to the accompanying regulatory impact analysis, the proposed provision established an exception to the deadlines set by Law 5026/2023, which was deemed necessary again for the reasons referenced above.
Finally, it is noted that this amendment was both unrelated to the principal legislative proposal and submitted after the prescribed deadline (see more here), and that it did not result in any modification to the text of Law 5026/2023.
c) In July 2024, Law 5130/2024 was enacted, amending several provisions of Law 5026/2023. Article 17 of this law introduced, among other changes, paragraph 8 to Article 44 of Law 5026/2023 (transitional provisions), which provides the final deadline for submitting Asset and Financial Interest Declarations as 31.12.2024, pursuant to Article 68 of Law 5113/2024 (A’ 96). The regulatory impact analysis accompanying this law doesn’t appear to provide any specific reasoning as to why the adoption of this provision was considered necessary (see pp. 24–25).
d) In December 2024—just days before the deadline for submitting declarations as established by the aforementioned laws—legislative amendment No. 300/7/18-12-2024 was tabled in Parliament. Article 2 of this amendment, ultimately adopted as Article 37 of Law 5167/2024, provided, among other things, for the extension of the deadline set under items (a) and (b) of Article 68(1) of Law 5113/2024 (A’ 96), concerning the submission of Asset and Financial Interest Declarations from 31 December 2024, to 28 February 2025.
According to the accompanying regulatory impact analysis, the extension was deemed necessary in order to prevent the overloading of the new electronic submissions system which was being used for the first time. At that point in time only 25% of declarations had been submitted, with the result that an exceptionally high number of declaration submissions were anticipated in a very short space of time.
Finally, it is noted that the aforementioned amendment was both unrelated to the principal bill and submitted after the prescribed deadline (see more here), and that it did not amend any article of Law 5026/2023.
While the extensions granted during 2023 and 2024 for the submission of declarations could be partially justified by the change in the legal framework and the resulting need to restructure the electronic system, the repeated adoption of “exceptional provisions” could reasonably be described as excessive—if not abusive. Indeed, due to these successive extensions, the deadline for the submission of declarations (and, effectively, the first substantive implementation of Law 5026/2023) was pushed nearly to two years after its enactment.
Unfortunately, the prevailing practice in recent years appears to have inverted the legal logic: deadline extensions have become the rule, while adherence to the deadlines laid out in the general provisions of the (applicable) asset declaration law has become the exception—a development that understandably raises concerns.
These concerns extend beyond the mere observation that the legal provisions regarding submission deadlines (as well as the associated sanctions) appear to be routinely disregarded. This is because delays in the submission of declarations inevitably lead to significant delays in both the review and—where applicable—the publication of the relevant declarations. Such delays undermine the objectives of transparency, accountability, and anti-corruption that are fundamental to the asset declaration system. Given the substantial volume of declarations that ultimately require review—especially when multiple years’ declarations are submitted concurrently—concerns over the effective attainment of these objectives, as well as the efficiency of the review process itself, are unfortunately further amplified.
Bank Account number: 1100 0232 0016 560
IBAN: GR56 0140 1100 1100 0232 0016 560
BIC: CRBAGRAA
In a time where the very foundations of democracy are gradually being eroded by the rise of extreme nationalism, alt-right movements, the spread of disinformation and corporate capture, the efforts of organisations such as Vouliwatch are more relevant than ever.
We rely on the generosity of each and every one of you to continue with our efforts for more transparency and accounta
By financially supporting Vouliwatch you support our litigation strategy, our campaigns for transparency and accountability in the political system, the development of new civic tech tools, our research projects and last but not least our impartial and accurate
