Greece and Germany authorities have signed a joint declaration of intent to exchange information and know-how aimed to combat tax evasion on Greece.

The deal was signed in Athens by Norbert Walter-Borjans, finance minister of the German state of North Rhine-Westphalia and Greek Prime Minister Alexis Tsipras.

The pact commits the two countries to share information on insolvent companies and tax management systems.

Under the agreement, 50 Greek tax officials will travel to North Rhine-Westphalia to receive training and for administrators from the German state to oversee the implementation of agreed actions in Greece.

Walter-Borjans has already supplied Greek authorities with a list of about 10,400 Greek citizens, who have been suspected of hiding CHF4bn from tax authorities.

Greek deputy justice minister Dimitris Papaguelopoulos said the Borjans list would mark the start of a long cooperation with North Rhine-Westphalia, which is to the fore in the fight against tax evasion.

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By GlobalData

Tsipras said: "Contrary to previous governments the political will to accelerate controls and fight tax evasion is now there."

"For us in North Rhine-Westphalia, it’s particularly important to give a clear signal of closer collaboration," said Walter-Borjans.