Mykonos: 200 luxury villas in tax evasion party

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.