NAV proposes filing charges in HUF 2.5 bln VAT fraud case

Competition

Hungaryʼs tax authority NAV has proposed that the Budapest Chief Prosecutor bring charges against members of a criminal organization, which defrauded more than HUF 2.5 billion in VAT by operating a chain of companies trading primarily in cooking oil and sugar, NAV told Hungarian news agency MTI today.

NAV said the 28 suspects operated sixteen companies that sold goods purchased in Slovakia in Hungary via a chain of companies they established, primarily to multinational companies, retail chains and large-scale users.

The financial investigators secured assets worth a combined HUF 800 mln in the form of cash, vehicles and other goods as well as bank accounts and properties.

Charges are expected to be pressed on financial fraud committed as part of a criminal organization, money-laundering committed on a commercial scale, violation of accounting rules and forgery of public documents.

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

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.