EU Faces €50 Billion Annual Loss to VAT and Customs Fraud, Warns Public Prosecutor

• EU faces large-scale VAT and customs fraud, losing €50 billion annually.
• Organised criminal networks exploit weak enforcement across Member States.
• Operation Calypso in Greece uncovered a major fraud scheme at the port of Piraeus.
• The scheme involved under-declaring goods and collusion with corrupt officials.
• EPPO highlights the widespread nature of these fraud activities across the EU.

Source: vatcalc.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.

---

---