- Greek tax authorities are targeting undeclared POS terminals used by businesses to conceal taxable income and evade VAT.
- Many of these POS terminals are registered with foreign banks, making transactions invisible to Greek tax authorities and funneling money abroad.
- Audits have uncovered thousands of such terminals, with about 80% originating from Bulgaria; others are linked to Britain, Lithuania, Belgium, and Ireland.
- Profits from these undeclared transactions are deposited in foreign accounts and often repatriated to Greece via undeclared cash transfers.
- Bulgaria is the preferred country for these schemes due to its proximity, facilitating frequent and easy money movements.
Source: ekathimerini.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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