NAV busts HUF 800 mln meat smuggler

Analysis

A man who allegedly cheated on VAT on meat imported from abroad caused the budget about HUF 800 million in lost tax damage, and the National Tax and Customs Administration (NAV) is proposing to prosecute him, writes origo.hu.

Photo for illustrative purposes only.

If found guilty, his sentence could be up to 10 years imprisonment.

According to the NAV statement, the suspect wanted to save on VAT by building a multi-tiered corporate network.

Meat products, mainly purchased from Poland and Slovakia at net prices, were passed through on paper by several Hungarian companies to reduce the VAT they paid using fictitious invoices.

According to the statement, the companies were run by executives recruited from homeless and auxiliary workers, in whose name the suspect founded or purchased the goods, as they did not carry out any actual activity themselves.

He used phantom companies to resell the foreign goods at home without paying taxes and served fictitious invoices, origo.hu adds.

Rate Freeze on SME Credit Ending April 1 Banking

Rate Freeze on SME Credit Ending April 1

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

AutoWallis Becomes Importer of Geely Group’s Commercial EV B... Automotive

AutoWallis Becomes Importer of Geely Group’s Commercial EV B...

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.