‘Party’ of illegal luxury home rentals in popular tourist resorts seeks to end Independent State Revenue Administration and has already managed to “discover” a company that rented villas in Mykonos. In particular, according to the tax administration, tax avoidance exceeds 1 million euros from the short-term rental property platform in Mykonos. As a result of cross-checking and auditing, the Independent Revenue Service determined that:

• Nearly 200 ultra-luxury residences in Mykonos have been listed and rented through the site without documentation and without declaration to the tax office.

• Many additional services were also offered, such as the provision of service personnel, organization of parties, dinners, rental of luxury cars and yachts.

• Tax evasion exceeds EUR 5,000 per property.

As a result of extensive cross-examination, the IA’s auditors found that the listing notices did not mention the property’s registration number. The total amount of fines reaches 1 million euros. AADE stressed that investigations are ongoing as there are many targeted cases. In fact, it follows from the AADE business plan that property owners and managers working in the short-term rental sector will be in the focus of attention of tax inspectors in order to identify, on the one hand, those who evade declaration. incomes, on the other hand, are those who declare less than they receive.

AADE has detected over €1 million in tax evasion from a short-term rental platform.

Already as a result of the checks carried out last year, 73,258 managers and owners were identified who evaded declaring 102 million euros. After receiving reports from the control and audit bodies, they were required to declare the appropriate amounts and pay the appropriate taxes.

In efforts to expose tax evasion that occurs through short-term rentals, digital platforms and the data they send to the tax collection mechanism have also played an important role. After using the data obtained by AADE from digital platforms Airbnb Ireland UC, Booking.com BV, VRBO Expedia Group Vacation Rentals Ireland Limited, property managers and owners were identified.

The tax administration says that the checks will be in-depth and lengthy and will begin on July 1. This means that in addition to checking the previous year’s declared income using smart tools, every month the inspection authorities will look for data from the platforms in order to identify those who evade declaring information about their holdings in the property register.

Based on the foregoing, persons who identify errors and omissions in the data on property and income that they entered in the initial declarations must correct them before the finalization of the declarations.