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VAT fraud case worth over EUR 1 mln sent to Latvian prosecutor's office
BC, Riga, 12.02.2018.
Print version
Print versionThe Tax and Customs Police under the Latvian State Revenue Service has sent to the specialized prosecutor's office a value-added tax (VAT) fraud case worth over EUR 1 million, asking that criminal charges should be brought against three persons, the State Revenue Service said, cites LETA.
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The Latvian investigators in cooperation with the Estonian law enforcement
agencies established that the three individuals in question had organized a
series of fictitious transactions for purchase of cement.
Under the criminal scheme, Latvian companies were supposedly purchasing
cement for supply to a company in Latvia, although in fact the company was
receiving cement from a cooperation partner in Estonia. But the Latvian company
submitted to the State Revenue Service false information about the
transactions, thus illegally reducing the amount of VAT it was required to pay
into the Latvian state budget.
The loss to the Latvian state budget from the above VAT fraud scheme is EUR
1.035 million.
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