Auditors from the DEOS unit of the Independent Authority for Public Revenue have uncovered yet another major tax evasion case.
Following intensive audits and using state-of-the-art digital tools, they uncovered “black money” 3.1 million euros in “black money” at a construction company and a real estate agency in the Cyclades, for the year 2024 alone.
Specifically, DEOS auditors, following targeted cross-checks and a detailed audit, identified significant discrepancies in the tax returns of these companies, with the apparent aim of concealing income.
In more detail:
Based on the algorithm's analysis, the auditors identified properties on the real estate agency's website that it had advertised as having been sold.
They then visited the office and requested the relevant orders. That is when they discovered that many of these purchases had not been reported.
The real estate agency had filed an initial tax return reporting gross income of 1 million euros and a loss of 257,000 euros.
According to the amended tax return filed after the audit, revenue doubled, reaching 1.9 million euros, while the company reported a profit of 229,000 euros.
And that’s not all: DEOS auditors found that many of these transactions had been made with the construction company itself as the seller. They examined the company’s tax return and were surprised to find that the construction firm had reported gross revenue of just … three (3) euros and a loss of 47,000 euros!
The audit led the company to file an amended tax return. As a result, revenue increased to … 2.2 million euros and profits to 615,000 euros!
In-depth audits of the financial records of the two companies are continuing.
