Spanish Criminal Organization Busted for €184 Million VAT Fraud

• Spanish authorities have dismantled a criminal organization that defrauded 184 million euros in VAT in the hydrocarbon sector.
• The operation was a joint effort between the Tax Agency and the Civil Guard, with support from Europol.
• 19 search warrants were executed, resulting in 11 arrests and 8 individuals under investigation.
• Authorities seized 7 million euros in crypto assets and requested the blocking of another 19 million euros.
• The criminal organization used a network of companies to orchestrate the fraud, including companies that accumulated fraudulent VAT quotas.
• The fraud occurred over the fiscal years 2021, 2022, and 2023.

Source: sede.agenciatributaria.gob.es

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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