Greek Authorities Join EPPO Probe into €114 Million VAT Fraud

• Greek authorities joined an EPPO-led cross-border investigation into an alleged €114 million VAT fraud involving smartphone sales.
• The scheme is described as a VAT carousel fraud exploiting the EU exemption for cross-border B2B transactions between member states.
• Authorities carried out searches and seizures in Greece, Cyprus, Germany, and Italy; five suspects were arrested.
• The alleged fraud used companies and “missing traders” based in Germany, Albania, and Sweden, with estimated tax losses of €80 million in Sweden and €34 million in Germany.
• Assets worth up to €80,000 were frozen, and bank accounts, cars, and real estate were seized in Greece, Cyprus, and Italy.

Source: ekathimerini.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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