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VPOP uncovers carousel, invoice frauds

Hungary's tax and customs authority VPOP has uncovered tax frauds in two cases that cost the state HUF 6.6 billion in lost revenue, VPOP chief János Nagy said at a press conference on Monday.

VPOP uncovered a ring suspected of carousel fraud involving 36 Hungarian and foreign companies that caused HUF 4.8 billion in lost tax revenue, and it found a group of companies issuing phony invoices that caused a HUF 1.8 billion shortfall, Nagy said. (MTI-ECONEWS)