Tax authorities identify 27 companies with bogus invoices

The Independent Authority for Public Revenue (AADE) has caught 27 companies allegedly involved in cases, as well as criminal rings, of issuing and receiving bogus invoices.

These are businesses involved in services as well as wholesale and retail trade, which issued documents with virtual transactions, that are part of the fraud chain.

The recipient companies therefore presented inflated costs, thereby limiting their profitability and avoiding the payment of income tax and value-added tax (VAT).

The 27 cases concern a net value of issued and/or received tax data of more than 218 million euros, while the corresponding VAT exceeds €48 million.

They included a wholesale telecom equipment company in Athens that had issued 217 bogus invoices and received another 67, with a total value of €52 million.