The Ministry of Finance is Pursuing Homeowners Who Provide False DeclarationsHomeowners are engaging in tax evasion by underreporting their income in tax payments. Homeowners who hide the amount of rental income they receive in cash, sometimes through false declarations and sometimes by not declaring at all, will be identified through cross-referencing and will face the necessary legal penalties.
Homeowners Can Avoid Penalties by Declaring ImmediatelyWith this initiative launched by the Ministry of Finance, hundreds of homeowners are already being pursued. All homeowners who do not declare rental income or declare it as less than it actually is have been placed under surveillance to be identified. Those who did not declare rental income last year are now caught in the Ministry's surveillance and have been fined. In fact, evading property tax is actually more detrimental. Because you end up paying more than you evade. The number of homeowners caught is truly astonishing. 367,247 individuals have been caught in the Ministry's radar.
