The Slovak Financial Administration has identified a new type of fraud on value added tax (VAT). Businesses have found that the administration would uncover fraudulent invoices, so they started to forge receipts from electronic cash registers, said the President of the Financial Administration, Frantisek Imrecze.
Electronic VAT ledger statements where businesses record the sum of cash payments for the month revealed these frauds. This means that, if for instance, an entrepreneur used to pay €10,000 per month for gas, which is deductible from taxes, now he pretends to have spent €200,000 per month for gas.
Katarína Richterová
