ECONOMY

Focus on ‘professional’ yachts

The Finance Ministry is preparing to draft a regulation in the coming days to better monitor taxpayers. It particularly targets those who sell property without revealing the real sale price, those who obtain revenues from illegal activities and the owners of yachts who attribute them to companies that are nonexistent in practice. There are 2,500 cases of yachts whose owners have claimed to tax authorities that they are used for professional purposes and the Financial Crimes Squad (SDOE) aims at examining these in detail. SDOE special secretary Ioannis Kapeleris will in the next few days send notes to the owners of these yachts asking them to pay tax on those companies and that they close them down.