ECONOMY

Taxman identifies 14 food businesses that hid €5.15 mln in income

Taxman identifies 14 food businesses that hid €5.15 mln in income

The Independent Authority for Public Revenue (AADE) has said it has identified 14 restaurants and cafes around the country that failed to issue receipts for 449,000 orders with a total value of €5.15 million.

In addition to hiding their income, the businesses collected €592,000 in VAT from their customers but did not pass this on to the tax authorities.

In the largest case, a cafe in Crete was found not to have submitted income tax and VAT returns in 2019 and 2020, thus concealing €1.4 million in income.

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