Humongous tax evasion reaching 1 million euros from a short-term real estate rental platform in Mykonos revealed by the auditors of the Independent Public Revenue Authority-AADE.
A company that manages luxury properties with short-term leases was caught in the grip of AADE. Through cross-scanning and audits, the Independent Authority identified a website with characteristics of a sharing platform, with tax evasion reaching €1 million.
Tax evasion party
• Almost 200 ultra-luxury residences in Mykonos were displayed and rented through the website, without documents and without being declared to the Tax Office
• Many additional services were also offered, such as providing service staff, organizing parties, dinners, renting luxury cars and yachts
• Tax evasion exceeds 5,000 euros per property
How they got caught
Through extensive cross-examination, the Independent Authority’s auditors found that the accommodation postings did not mention the Property Registration Number. The total fines reach 1 million euros.
Investigations are ongoing as there are a number of targeted cases ongoing.
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