Financial Services, Latvia, Legislation, Taxation, Transport

In April this year, police detained six persons who had organized a taxicab business, which had been providing taxicab services since November 2015 hiding their real income and failing to pay EUR 570,000 worth of taxes.

The group used 50 motor vehicles to provide taxicab services and entered false information about their income in book-keeping documents.

As a result of an investigation, which involved several searches at the suspects’ offices and homes, law enforcement officers seized accounting documents and electronic data carriers.

The investigation established that the suspects had been providing distorted data on their income and services provided in order to avoid paying their taxes. The size of the company’s turnover appearing in the accounting documents was eight times smaller than its actual turnover.

A criminal procedure has been started over providing false accounting information for financial gain. The offense carries a maximum prison sentence of five years, community service or a fine.