Russian Authorities Dismantle $13.2 Billion VAT Fraud Ring Using Thousands of Shell Companies

• Russian authorities arrested several individuals involved in a $13.2 billion tax evasion scheme using thousands of shell companies.
• The group sold fake VAT invoices to nearly 40,000 companies since 2023, enabling illegal tax deductions.
• Over 30 raids were conducted in multiple regions, targeting both facilitators and beneficiary businesses.
• The ringleaders had prior financial crime convictions, and the network included over 4,800 transit organizations.
• Major state-affiliated firms were among the clients, and investigators are probing a consultancy called Tax Doctor (White Optima).

Source: themoscowtimes.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.

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