Millions of euros in virtual invoices and tax evasion were discovered by its auditors Independent Government Revenue Authority (AADE) during random inspections construction companiescountrywide.

It’s a codenamed company “Bulldozer”according to which the heads of the audit services of ADE use the data of the algorithm of special software and identify enterprises that exhibit suspicious fiscal and transactional behavior. In this particular case, they identified and conducted a targeted raid on three businesses:

1. Based on the results of the audit of an individual managing a construction company in the region of Western Greece for 2018, an unreasonable increase in assets of a total of 1.5 million euros was revealed.

2. A construction company operating in Attica was fined 158,000 euros for the current year for failing to provide accounting documents at the invitation of an auditor.

3. A residential building company in Attica was fined €1.15m for 2019-2020 after it was found to have issued fictitious invoices for €2.3m.

According to 2022 data, delinquency in the construction sector exceeds 25%.

As emphasized in the tax administration, in all three cases, the verification continues, while the auditors carefully check the data of companies and for other purposes.

The construction sector is said to be overdue by over 25%, according to AADE’s accounting data for the previous year.

In particular, in 2022, the following were identified:

• An individual enterprise located in Athens and engaged in construction work issued and received 9,986 virtual tax statements in 2018-2020. The net worth of these properties was €51.1 million plus VAT of €12.3 million. The above were identified after processing the confiscated data.

• A Sole Proprietor in the Dodecanese whose object of activity is construction work, between 2008 and 2019, after processing the confiscations, it was found that income tax and VAT returns were not submitted with a total amount of hidden material of 1.8 million euros.