Concerning the tax compliance issues

By sharing its expertise on the definition of a tool for access to tax legislation and administrative documentation, which will enable the Greek taxpayers and the services of the tax administration to access practical and comprehensive tax documentation.

o By strengthening its technical support on the topics of internal and risks control, in order to raise the awareness of the Greek public finance stakeholders regarding this international requirement, and to improve the transparency of procedures.

Finally, France intends to accompany these reforms with the gradual integration of civil servants from the Greek Ministry of Finance into the public finance training programme provided by the Public Finances Directorate General, from the start of the 2016 academic year onwards, under conditions that will be defined by both countries. This training programme will include practical experience in operational services of the French tax administration (Public Finances Directorate General).

PRIVATISATION AND PUBLIC ASSETS MANAGEMENT

France is ready to bring its full support and expertise to assist Greece in the development of its public assets management and disposal program, especially by sharing the experience and expertise of its Government Shareholding Agency (APE) on, inter alia, the following range of topics:

o Provide consultation to the Greek Public Authorities in the establishment of the new Fund to be settled in accordance with the agreement of July 13, 2015 and the MoU. France’s consultation during the course of the establishment of the asset management and disposal program may include matters relating to governance, structuring and key decision mechanisms of the Fund;

o Share the APE’s expertise on the management of public entities pre- and post-transaction: overall coordination of ownership policy, governance and representation within boards of portfolio companies, strategy monitoring of portfolio companies, financial reporting and monitoring, follow-up of investments, restructuring programs and disposals, framing of the dividend policy;

o Share the APE’s expertise on the French experience on public disposal programs:

• -  Preparing the companies and assets to be sold; choice of adequate market processes (IPO, dual track, ABB, competitive processes, etc.)

• -  Identification of potential investors

• -  Treatment of accounting issues; preparation of pro forma consolidated accounts

• -  Issues linked to statutory charges and pension funds

• -  Financing of service public obligations

• -  Employee representatives at governance body level in publicly-owned companies, and

  protection of the Government’s strategic interests

• -  Regulatory issues

• -  Competition aspects

  Working methods:

- This reform partnership is an integral part of the European effort to support Greece. Its implementation will be carried out in the framework of the Plan for technical cooperation support of structural reforms agreed between the European Commission and the Greek Authorities, with the Secretary General for Coordination as key interlocutor. It will also be fully consistent with the economic reform measures and commitments associated with the financial assistance package.

• -  Greece will maintain the full political and operational ownership of the reforms.

• -  The Reform Partner shares State-level experiences, good practice and supports the Greek Authorities in the thinking process for developing, planning and implementing reform strategy and actions. This partnership contributes to the definition of strategic orientations, including for the support and technical assistance, and facilitates the delivery of reform by the Greek Authorities. To achieve this, the Reform Partner provides political support by maintaining and developing high-level contacts with the Greek Authorities, the SRSS, other EU Member States and relevant stakeholders. The Reform Partner is represented by a senior coordinator and, when necessary, other empowered senior civil servants. The Greek Authorities will also designate a senior coordinator.

• -  For each of the main reform areas, each party will ensure that particular attention is paid to the means of delivering the key aspects of supervision and monitoring of the relevant projects. The actions and relevant support, as well as clear a timetable of initiatives, will be defined and agreed between the Greek Authorities and the Reform Partner, in coordination with the SRSS and the other reform partners involved. Due regard will be given to the specific institutional status of the General Secretariat for Public Revenue and its degree of autonomy.

• -  On a project level, the Reform Partner further supports the Greek Authorities, in coordination with the SRSS in identifying and assembling the subsequent relevant expertise. Depending on the nature of the assistance to be provided, expertise will be assembled, notably via Expertise France, from France and other EU Member States, the European Commission itself, international organizations, public agencies and/or the private sector according to the applicable rules. This assistance will realise an optimal balance between seminars and workshops in France or Greece, and short-term and long-term experts (based in, or travelling on a regular basis to Athens).

• -  The Greek Authorities, in cooperation with the European Commission, will finalise the different processes for financing such expertise.

  Our full commitment to reinforce the current framework of cooperation is hereby reaffirmed.

  The achievements of this Protocol will be reported twice a year to the two governments, by two senior civil servants, designated respectively by Greece and France.

Signed in Athens on 23 October 2015 On behalf of the Hellenic Republic

Euclid Tsakalotos The Minister for Finance

of the Hellenic Republic

On behalf of the French Republic

Michel Sapin
The Minister for Finance and Public Accounts

of the French Republic