Tax authorities scrutinise social media, weddings for undeclared wealth
Source: in-cyprus.com
The Tax Department has ramped up efforts to identify potential tax evasion by monitoring social media platforms for displays of extravagant lifestyles.
Tax officials are paying close attention to lavish weddings, both in Cyprus and abroad, featuring high-profile Greek singers commanding fees of up to €80,000 per performance. Other targets include influencers boasting of substantial earnings from digital platforms and individuals showcasing luxury goods and exotic holidays online.
A team within the tax department reportedly conducts daily social media surveillance, cross-referencing ostentatious displays with declared incomes. The initiative also investigates public tip-offs, some of which have proven valid.
Provocative behaviours and displays of wealth that do not align with individuals’ tax records will not go unnoticed, a source told Phileleftheros, speaking on condition of anonymity.
The crackdown has already yielded results, with fines imposed in several cases for failure to submit accurate tax returns. Some individuals were found to have registered multiple companies without declaring all associated earnings.
The original article: in-cyprus.com .
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