Tax evasion – Famous Greek Influencers under scrutiny

The Independent Authority for State Revenue (AADE)  has started an investigation, as celebrities promote products and services through social media, but there are indications that they do not declare the income from this activity.
What does a social media influencer gain in Greece, every time he/she promotes a product (clothing, cosmetics, etc.) to their followers? And to what extent does the influencer inform the tax office about his/her income? These are the questions that the auditing services of AADE are called to answer in the near future, as it is found that in Greece, too, the commercial use of social media by celebrities with a large number of followers acquires a considerable size.

In addition to the global stars who earn millions by promoting various products through social media, mainly Instagram, there are a total of about 50 million social influencers worldwide who earn an average of $ 2,970 a month from promoting products through their accounts. according to a related research by HypeAuditor.

A corresponding record has not been made in Greece, but it is now established that dozens of lesser or better known celebrities, mainly with reference to the field of television, promote products and services through their social media accounts and receive rewards, as is customary internationally, in cash or in kind (free products).

An official from the Ministry of Finance states that a mapping of this new sector of economic activity is already underway. The auditors have made a first record of the celebrities who promote products through their social media accounts and, in the first phase, the income they declare has been recorded, in order to determine if and to what extent the provision of advertising services has been done, so that the...