EU SUSPECTS TAX FRAUD AT CHINA’S NEW GATEWAY TO EUROPE AT PIRAEUS

Reuters on 20th April reported that EU and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe.  VAT is completely evaded, with enormous damage to the national tax authorities and to the community, said one Italian official.  OLAF confirmed it was working with Italy on the investigation.  It is said that groups import goods, often counterfeit clothing and footwear, and massively understate their value to EU customs to avoid import duties, and also lie about the firms that receive the goods, enabling them to avoid VAT.

https://uk.reuters.com/article/uk-china-beltandroad-piraeus-exclusive/eu-suspects-tax-fraud-at-chinas-new-gateway-to-europe-idUKKBN1HR2LL?rpc=401&

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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