Ft 2.5bn VAT Scam Uncovered In Hungary
- 15 Jul 2013 9:00 AM
Tax officials have broken up a tax fraud scheme in which companies used false invoices to avoid paying Ft 2.5 billion worth of VAT, the Tax and Customs Office (NAV) announced on Friday. Financial detectives seized 16 luxury cars, 11 properties and €25,000 in cash and detained five people.
The perpetrators procured cooking oil and sugar from Slovakia for resale in Hungary.
In order to evade tax payment the companies reported false sales data in their tax returns.
Source: Hungary Around the Clock
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