AADE catches some big fish

Incomes totaling around 1 billion euros were hidden by 1,048 taxpayers and businesses, but were revealed by the audits carried out last year by the Independent Authority for Public Revenue (AADE).

Each of these cases failed to declare an average of €871,000 in income to the tax authorities, with the missed revenue reaching a total of €437 million. In the special investigations carried out by the audit mechanism, bank accounts were opened, revealing undeclared incomes, as well as identifying rackets of issuing and receiving fictitious tax data, while a large amount of tax evasion was found in e-commerce and on order-taking platforms.

There was the impressive case of an individual active in the provision of lotteries, bingo and other services, where the authorities found undeclared commissions received and increased property from income from an unknown source, totaling €13.76 million. One wonders where that cash has come from. Another taxpayer, who operates an OPAP gaming agency and betting services, concealed income of €6.4 million. Part of the concealed income has not been traced and the case has been referred to the anti-money laundering authority for further action. According to the AADE report, the most important of the 1,048 special investigations concern:

• A sole proprietorship trading in electronic and telecommunication equipment in Thessaloniki issued 708 virtual tax details, with a total value of €37.2 million.

• A fictitious tax information racket operating in the wholesale trade of live animals was detected, issuing and receiving fictitious tax information, with a total value of €34.72 million.

• An ongoing investigation into a large number of businesses trading in telecommunications equipment, cellphones and other technology products, with VAT losses of more than €10 million.

• A go-kart track services enterprise on an Aegean island submitted inaccurate income tax returns in 2019 and 2020, concealing taxable material amounting to €11.2 million.