Chairman of Nama Frank Daly appointed to board that will advise Greek tax administration

The chairman of the National Asset Management Agency (Nama) has been appointed to a board that will advise the Greek tax administration, Greece's finance ministry announced yesterday.

Frank Daly, a former chairman of the Revenue Commissioners who has headed Nama since its foundation in December 2009, will be one of two foreign tax collection experts on the committee, which will advise the general secretariat of public revenue at the ministry.

A ministry announcement referred to Daly as a “former head of the Irish tax administration” from 2002 to 2008, making no reference to his present position as chairman of Nama.

Mats Sjöstrand, who once headed Sweden’s tax authority, will also serve as an advisor, alongside two Greek law lecturers and a supreme court lawyer.

Headed by Harry Theoharis, who once served as a vice-president at Lehman Brothers in London, the secretariat is tasked with overhauling Greece's antiquated and inefficient tax collection system and to protect it from political interference.

According to a recent troika review of Greece's memorandum programme, the appointment of an advisory board, which will report to finance minister Yannis Stournaras, will offer advice on major matters of revenue administration strategy including human resource issues, check the performance of tax office administrators against plans and targets.