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GreekReporter.com Business The Black Villas of Greek Islands

The Black Villas of Greek Islands

xenodoxeio_mykonos_533_355A billion euros party has been set on the Greek islands. The owners of luxurious villas rent their property without declaring anything to tax authorities.
The Financial Crime Unit has detected over the last two years 500 cases of owners renting houses mainly on Mykonos, Santorini, Paros, Patmos and Kefallonia, with rents amounting from 300 to 10,000 euros per day, but do not declare the slightest income.
These are mainly foreign owners of real estate in Greece, who arrange packages for foreign tourists through tourist agencies abroad and hide their income.
Tourists can see the houses on the Internet and in many cases they have the option of domestic servants, which is also illegal, as their work is not declared.
The advance payment is deposited into an account abroad and the remaining amount is usually paid in cash in person in order to hide the transfer, which would otherwise be recorded in bank accounts.
The tax evasion is estimated to one million euros per day. The loss of profit for the state is estimated at one billion.

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