(Luxembourg, 30 January 2025) – In an investigation into a complex VAT fraud on imported fuels, led by the European Public Prosecutor’s Office in Bologna (Italy), the Modena Italian Financial Police (Guardia di Finanza) seized assets worth €5 million in the provinces of Modena and Ravenna this month.
At stake is a suspected Missing Trader Intra-Community (MTIC) fraud – a complex criminal scheme that takes advantage of EU rules on cross-border transactions between its Member States, as these are exempt from value-added tax (VAT).
The investigation originated after a tax inspection by the Guardia di Finanza Economic Financial Police Unit of Modena, which revealed that the suspected company had imported fuel at a particularly advantageous price through a fraudulent chain of so-called missing traders – shell companies established for the sole purpose of evading the payment of VAT.
Afterwards, the suspected company allegedly sold the fuel to petrol stations far below market prices, thus obtaining an unlawful advantage over honest economic operators.
It is estimated that the scheme caused a damage to the Italian budget of nearly €14 million.
At an earlier stage of the investigation, searches have been carried out at the company’s headquarters and €120 000 in cash was found inside the car used by the company’s legal representative.
All persons concerned are presumed to be innocent until proven guilty in the competent Italian courts of law.
The EPPO is the independent public prosecution office of the European Union. It is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.