EPPO Conducts Searches in Six Countries in Probe of Second-Hand Mobile Phone VAT Fraud

• EPPO carried out 25 searches and other investigative measures in six countries
• The investigation is targeting a suspected €19 million VAT fraud involving second-hand mobile phones
• The fraud involves companies applying reduced VAT to the sale of imported mobile phones to increase profits
• Several bank accounts were frozen and cash and cryptocurrency were seized during the searches
• Four suspects are under investigation for defrauding tax authorities in Bulgaria, Germany, and Slovenia
• The suspects set up a chain of companies to fraudulently avoid paying VAT on imported smartphones
• The companies involved are located in Bulgaria, Germany, and Slovenia
• The suspects are accused of defrauding VAT payments with an estimated damage of at least €19 million

Source: eppo.europa.eu

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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