Is the trace of a massive VAT fraud leading to Luxembourg?

The European Public Prosecutor’s Office is investigating a major VAT fraud. Losses due to the crime amounted to about 2.2 billion euros. The swindlers managed to cash in on taxes on the sales of electronic devices. Large-scale searches took place across the region, including Luxembourg.

Is the trace of a massive VAT fraud leading to Luxembourg?

The searches affected three private companies, a law firm and an accounting firm — and one private individual, whose identity and relationship to the scam, of course, are not disclosed at this time. In parallel, searches and investigations are going on in 13 other EU countries.

It is still difficult to say how strongly the crime is connected to Luxembourg. Overall, however, this is a colossal VAT fraud, the largest in the history of the European Union. In addition to the financial damage, the potential number of participants is also impressive. According to representatives of the European Public Prosecutor’s Office, in one way or another, about 600 people are involved in the crime.