Ljubljana - The Financial Administration has set up a special portal to advertise and auction off properties seized from tax offenders. The first online action will take place on furs.edrazbe.si on 20 May.

The portal features a section listing foreclosed properties that are up for sale and a section where public online auctions are held live in real time.

"Prospective buyers will be able to access information at a single secure gateway. At the same time they will be able to apply for and take part in a public online auction from the same gateway. Bidding will be anonymous," FURS said in a press release on Monday.

They believe such a solution reduces the risk of collusion between potential buyers compared to a traditional public auction, thus making auctions more effective.

The part of the portal where property is advertised for sale is public and can be accessed without registration or identification.

Access to the part where auctions are held is restricted to pre-registered users, who have to register with their electronic identities.