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Greek Authorities Target Luxury Island Villas For Tax Evasion

luxury villaGreece’s Financial Crime Squad (SDOE) has revealed that owners of some 500 luxury homes on popular islands are leasing their property via the Internet without declaring income to tax authorities.

SDOE said the owners of these luxury homes are mainly foreigners who live abroad and charge rent that sometimes amounts even to 10,000 euros a day.

According to SDOE, the tax evasion is estimated to one billion euros.

Such luxury homes are located on islands such as Mykonos, Santorini, Paros and Patmos.

The practice of people renting out their property by the day to tourists is not new to Greek tourism professionals.

The Hellenic Chamber of Hotels has repeatedly brought the situation to the attention of the Greek tourism sector since the illegal “hotels” affect both the Greek hotel industry and the state.

According to reports, even in Athens and Thessloniki private homes are being rented to tourists by the day.

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