Romanian Agency Uncovers €17 Million Cross-Border VAT Fraud Scheme

• The National Agency for Fiscal Administration reported a cross-border VAT fraud scheme totaling 85.91 million lei
• In November 2024, anti-fraud inspectors from the General Directorate of Fiscal Anti-Fraud completed an investigation into a group of companies involved in banking and financial operations mainly for purchasing luxury watches, led by two Italian nationals
• During the investigation, it was discovered that the group organized fictitious financial circuits and recorded artificial commercial relationships and documents in their accounts to create a seemingly legitimate origin for the fictitious transactions
• The inspectors determined that the group owes a total of 85.91 million lei to the state’s consolidated budget, including corporate tax and VAT
• The General Directorate of Fiscal Anti-Fraud continuously conducts anti-fraud inspections to prevent and combat tax evasion and advises all economic entities to comply with current tax laws

Source: static.anaf.ro

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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