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Phony invoice ring evades HUF 200 million in taxes

Hungarian tax authority APEH on Tuesday said it uncovered a ring of companies that exchanged phony invoices to avoid paying some HUF 200 million in taxes.

One of the companies in the ring, which evaded HUF 120 million in taxes through the scheme, was a subcontractor on several motorway construction projects, APEH said, without revealing the name of the company.

APEH started criminal proceedings against six people suspected of being a part of the ring. (MTI-ECONEWS)