- Italy executed a freezing order of over €6.8 million ($7.34 million) against four individuals and a company for VAT fraud related to illegal fabric imports from China.
- The European Public Prosecutor’s Office (EPPO) in Bologna requested the order.
- The Italian Financial Police (Guardia di Finanza) executed the order, freezing over €620,000 (~$669,495) in bank accounts and seizing over €27,000 (~$29,155) in cash.
- The investigation targets eight individuals and seven companies for evading VAT on 13,600 tonnes of textiles worth around €63 million imported from China to the EU.
- Suspects include owners and managers of customs shipping companies in Prato and Bologna, and Chinese entrepreneurs.
- They are suspected of smuggling, forgery, and issuing fake invoices.
- The scheme involved declaring imports but not moving goods to tax warehouses, avoiding VAT payment.
- The estimated VAT loss is over €13 million (~$14 million).
- The EPPO is responsible for investigating and prosecuting crimes against the EU’s financial interests.
Source: fibre2fashion.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.
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