Bern (awp/ats) – A Swiss company is suspected of involvement in large-scale tax evasion in northern Italy. She would also have participated in money laundering operations for an amount of around 28 million euros, according to the Milan Public Prosecutor’s Office.
Italian justice discovered a system in which four companies involved simulated the purchase and sale of advertising space between them. There are serious suspicions of a complex mechanism of tax evasion and money laundering, writes the Milanese Public Prosecutor’s Office.
The managers of the four companies are under house arrest. According to prosecutors, they circulated invoices for non-existent services, including VAT. In doing so, they established a fictitious VAT credit in favor of the company acting as an advertising services concessionaire.
The State thus lost approximately 30 million euros in taxes. In the current state of the investigation, it appears that some of the amounts obtained illegally were transferred to a Croatian company and others to a Swiss company. The latter in turn would have used the money to buy apartments in a hotel complex in Panama.
ats/al