InsiderEconomyAuditor General says state loses million from renting of prime beaches in...

Auditor General says state loses million from renting of prime beaches in Agia Napa

Auditor General yesterday testified before the House Watchdog Committee that the State has lost millions of euros from the renting of prime beaches in Agia Napa, while the hoteliers take advantage of them. As he said, this phenomenon started in 1970 and if the state had received the market rental value it would have gotten 6 million euros yearly instead of the 1-1.5 million provided by an agreement signed in 1970. Furthermore, another four agreements were signed during the 1981-1982 period within the framework of assisting displaced hoteliers get back to work.

He also said that hoteliers can define the rent they pay themselves, either a percentage on the land they rent or pay rent according to the income they claim that have every year. It is indicative that even during the 2015-2016 period when tourism was booming, hoteliers stated limited income.

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