68. Are elected officials required to submit reports regarding their finances?

The Incompatibility and Transparency Law (1983, last amended 2013) regulates financial disclosure for Ministers and MPs, who provide similar disclosure items. Both declare firm ownership and board membership, with the incompatibility committee deciding whether keeping this position constitutes a conflict of interests. In addition, Ministers declare real estate, capital assets, accumulated debt and the spouse’s stockholdings. Instead, Members of Parliament declare income from outside employment. The Civil Servant Law (1979, last amended 2015) foresees lean disclosure requirements for Civil servants. Any outside employment and the receipt of honorary gifts must be disclosed, but no financial statements are to be made. There are no financial disclosure requirements for the Head of State, who holds a representative function.

Declarations are submitted to the Central Auditing Agency for Ministers, to the President of the Parliament for MPs, and to the administrative supervisory body for Civil servants. All the while, only the latter functions as an enforcement body. No other enforcement or verifying mechanisms are in place. The President of Parliament must keep a public list of disclosures made by MPs, which excludes capital income. None of the other declarations are made publicly available.