- European Public Prosecutor’s Office (EPPO) conducted investigations in six countries regarding a suspected 19 million euro VAT fraud.
- The investigation, named “Concertina,” involves second-hand mobile phones imported from Hong Kong, UAE, and the US.
- The countries involved in the investigation are Bulgaria, Germany, Italy, Malta, the Netherlands, and Slovenia.
- During the searches, documents, electronic devices, evidence, 31,500 euro in cash, and cryptocurrency worth about 40,000 euro were seized.
- Bank accounts were frozen, with at least 88,000 euro seized so far.
- The fraud involves companies fraudulently applying reduced VAT to the sale of second-hand mobile phones to increase profits.
- The companies under investigation allegedly charged reduced VAT when the full rate was due, causing unfair competition.
- Four suspects worked together to defraud tax authorities in Bulgaria, Germany, and Slovenia by setting up a chain of companies engaged in intra-community delivery of goods.
- The companies involved in the fraud are located in Bulgaria, Germany, and Slovenia and are managed by the four individuals under investigation.
- The investigation estimates a damage of at least 19 million euro in VAT fraud.
Source: sofiaglobe.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
