- Slovakia is linked to one in three VAT fraud cases in the EU, making it a central hub for such criminal activity.
- Criminal proceeds from VAT fraud in Slovakia are often invested in other illegal activities like drug, human, and weapons trafficking.
- Over 4,700 suspicious companies connected to 172 ongoing VAT fraud investigations have links to Slovakia.
- VAT fraud costs the EU an estimated €50 billion annually, with Slovakia playing a disproportionately large role given its small population.
- The fraud diverts money from public services, distorts markets, and undermines the rule of law in the EU.
Source: dw.com
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.
Latest Posts in "European Union"
- The «Prefilling» headache
- The Fiscalis Programme 2021–2027: Interim Evaluation and Key Insights
- EU ViDA E-Invoicing: Key Changes and Luxembourg Implications for Cross-Border B2B Transactions
- VAT Exemption for Financial Intermediation: Functional Approach Broadens Scope, Impacts FinTech and Platforms
- European Parliament: VAT Obstacles in the EU Single Market -A Growing Barrier to Cross‑Border Business
