Greek tax authorities seized point of sale (POS) machines linked to banks in Switzerland at Louis Vuitton’s two shops on the island of Mykonos.
The POS machines are used by retailers to conduct credit card transactions and collect money from customers’ credit cards via banks. By law, all POS machines in Greece must be linked to Greek banks to prevent companies from evading taxes.
The two Louis Vuitton POS machines were linked to Swiss banks, bypassing the Greek system all together and effectively cheating the Greek tax authorities.
In total, two POS machines were seized. One was from the French luxury brand’s shop in Mykonos’ main town, called Chora and the other was confiscated from the company’s pop up shop at Nammos Village, a new fashion shopping destination affiliated with the popular beach club at Psarrou Beach.
The French company, owned by parent company LVMH has yet to comment on the report, shared by Greece’s official state-owned news agency ANA-MPA.
The sting operation against Louis Vuitton by Greek tax authorities on the popular summer island was part of a larger operation that closed numerous establishments and fined others, which were in violation of not issuing receipts to customers or not reporting income.
Tax evasion on resort islands like Mykonos, Santorini and elsewhere– frequent largely by foreign tourists– runs rampant in the summer months and Greece’s authorities try to be a step ahead– a Sisyphean task.
*****
Since you’re here… I have a small favor to ask.
More and more people than ever before are reading The Pappas Post and despite increasing costs to maintain the site and provide you with the quality content that you deserve, I will never “force” you to pay for our website or add a paywall. I believe in the democracy of the internet and want to keep this site and its enriching content free for everyone. But at the same time I’m asking those who frequent the site to chip in and help keep it both high quality— and free. We’ve implemented a “free-will” annual subscription for those who want to support our efforts. I guess it’s fair to call it a philotimo subscription… because you don’t have to do it but it’s really the right thing to do if you love the site and the content we publish. So if you like The Pappas Post and want to help, please consider becoming a “philotimo subscriber”. Click here to subscribe. If you’d rather make a one time donation, we will gladly accept any amount, with appreciation. Click here to donate any amount.
