VAT fraud in the spotlight

The Financial Administration has set up a specialized team that should focus on fraud within control statements for value-added tax (VAT). The inspection started on Friday, July 24 and for now does not have any time limitation, reads the Plus 1 Den daily. "An entrepreneur from Bratislava spent more than 420,000 EUR in cash in one day. He subsequently included the money in a VAT ledger statement. If it was true, he would have had to carry out on a daily basis 420 purchases worth one thousand EUR each. This is one example of circumventing the VAT control statement," explained spokeswoman for the Financial Administration Patricia Macíková.