Eight hundred million VAT fraud has been uncovered by the tax authority

A man who cheated on VAT on meat imported from abroad has caused about 800 HUF million loss to the budget, and the National Tax and Customs Board (NAV) is proposing to prosecute him.

In a statement released on Wednesday by NAV, the man suspected in the case wanted to save VAT by building a multi-tiered business network. Meat products, mainly purchased from Poland and Slovakia at net prices, were passed through paper by several Hungarian companies to reduce the VAT they pay using fictitious invoices they issue. (MTI)