Alleged VAT Fraud Ring Dodged $4.2M In Taxes, EU Says

By Matthew Guerry (June 22, 2022, 5:31 PM EDT) -- European authorities carried out 20 searches in four countries as part of an investigation into an alleged fraud outfit they believe evaded €4 million ($4.2 million) in value-added tax, a European Union agency said Wednesday.

The managers of five companies in Lithuania are facing fraud allegations in connection with the investigation, the European Union Agency for Criminal Justice Cooperation said in a news release. Nonoperating companies based in Hungary, Slovakia and Latvia are also alleged to have participated in the scheme, according to the agency.

The five are said to have avoided tax on approximately €19 million in used vehicle sales over the...

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