- The European Public Prosecutor’s Office (EPPO) has frozen an additional 12.3 million euros in an investigation into VAT fraud related to smuggling of textile products in Italy.
- Two new seizure orders were issued in Bologna, Italy, totaling 12.3 million euros against suspects involved in VAT fraud regarding illegal import of fabrics from China.
- The Italian financial police seized over 3.6 million linear meters of fabric, valued at 4.9 million euros, during the execution of the new seizure orders.
- The investigation targets several companies suspected of VAT evasion for importing over 13,600 tons of textile products worth around 63 million euros from China to the EU.
- The suspects, including owners and directors of customs shipping companies in Prato and Bologna, as well as Chinese businessmen, are suspected of smuggling, forgery, and issuing fake invoices.
- The investigation has led to an estimated VAT loss of over 13 million euros.
- Two previous seizure orders had already been issued in the investigation.
- The new seizure orders were issued after identifying a new suspect believed to be complicit in the crimes.
- The European Public Prosecutor’s Office is responsible for investigating and prosecuting crimes against the EU’s financial interests.
- All individuals involved are considered innocent until proven guilty in Italian courts.
Source: taxheaven.gr
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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