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NEWS BRIEFS

Police detain VAT fraud specialists

A POLICE investigation has charged 19 people with forming an organised criminal group and committing value-added tax (VAT) fraud of Sk750 million (€19 million), the news wire TASR wrote.

Eleven people have been detained, four others are known to be outside of Slovakia, and others remain at large, the police said.

The group operated through at least 15 companies all around Slovakia, registering them as VAT payers. However, executive agents at the companies were fabricating invoices for purchases that were never made.

The group also organised cashless transactions among particular companies to create documents aimed to mislead tax authorities.

When tax bodies approved the excessive VAT payment, the companies received at least Sk635 million (€16 million) in refunds, but a second inspection halted the payment of a further Sk121 million (€3 million) to the companies.

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