Elaborate Excise Tax Scam Uncovered In Hungary
- 3 Jan 2012 8:00 AM
"Tax and Customs Office (NAV) agents have captured a gang which had been trafficking in oil products from Austria and Germany, in a nationwide operation. The group reportedly deprived the state of Ft 1 billion in revenue by circumventing tax regulations in one of the most well-organised excise tax crimes of recent years, Magyar Hirlap writes.
NAV criminal affairs spokeswoman Alexandra said that the gang evaded excise tax and VAT payments via a series of illegal business deals.
While distributing oil products purchased abroad, the group concealed their tax obligations and covered their illegal operations with companies that were intentionally ruined or taken into bankruptcy.
Several filling stations operated in part by the gang took part in selling the oil products.
Four of the eight suspects are in custody, the spokeswoman said.
Detectives seized Ft 16.5 million in cash from the suspects."
Source: Hungary Around the Clock
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