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12° Nicosia,
20 June, 2024
 
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Tax evaders beware of what you post on social media

Greece’s Finance Ministry will scan social media, specifically Facebook and Instagram, to locate tax evaders

According to a report in the Sunday edition of realnews.gr, the Greek Government plans to identify hidden income earned by individuals and companies that conduct business online. The government will use social media platforms to gather information, such as photos of luxury items, to determine if taxpayers lead a luxurious lifestyle that is inconsistent with their declared income.

Individuals who post pictures of themselves on Facebook and Instagram showcasing luxury vehicles, homes, yachts, and other expensive items will be checked. However, some individuals have raised concerns about the potential for false conclusions based on harmless social media posts, such as posing in a friend's car.

Companies will also be scrutinized for tax evasion on social media platforms. Tax officials will examine sales through social media, the number of friends of each business, and customer comments to determine if companies are selling products at tempting prices without declaring specific transactions to the tax office. Real news noted that tax evasion in these cases typically amounts to tens of thousands of euros, citing ministry sources.

In response to the government's efforts, an "influencer" stated that she only works with companies that do not engage in tax evasion and declares all income to the tax office. The Greek Finance Ministry and Independent Public Revenue Authority (AADE) will lead the charge to catch taxpayers evading taxes through their online businesses.

[With information sourced from Greek City Times]

 

 

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Cyprus  |  tax  |  economy

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