Tax authority uncovers VAT fraud of HUF 65 bln in 2012
Hungary's National Tax and Customs Authority (NAV) uncovered VAT fraud adding up to HUF 65 billion in 2,700 audits last year, daily Magyar Nemzet said on Friday. NAV discovered 127 companies that existed solely for the purpose of generating phony invoices, the paper said. In 2011, NAV uncovered VAT fraud of HUF 54.3 billion in the 2,208 audits.
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