Crime, Latvia, Legislation, Lithuania
International Internet Magazine. Baltic States news & analytics
Wednesday, 08.05.2024, 21:07
VAT fraud scheme involving Lithuanians, Latvians uncovered
The
international organized group, which was uncovered by investigators from the
FNTT Kaunas Regional Board, failed to pay almost 200,000 euros in VAT to the
Lithuanian state, the service said.
The group
consisted of six individuals from Lithuania and Latvia, it said, adding that
the number of suspects might increase.
According
to the investigation, a company owned by several Latvian nationals purchased
large quantities of refined sunflower and rapeseed oil and sugar from European-based
producers.
These
products were shipped to Lithuania and sold to a Kaunas-registered wholesaler
that supplied them to retail chains and food product manufacturers.
In an
effort to reduce the VAT payable, a fraud scheme was devised to create a chain
of illegal transactions between producers and the direct buyer. The chain
involved at least six fictitious firms headed by Latvian and Lithuanian
nationals.