Car leasing companies involved in Hungary tax fraud

Hungarian car leasing companies were involved in VAT fraud by selling and leasing cars at zero-rated VAT via Romanian companies, a source told atlatszo.hu. Networks of companies specialised in EU-level tax evasion emerged in the grain trade sector as well, atlatszo.hu earlier reported. The cases came to light after a Hungarian tax authority whistle-blower reported that illegally evaded VAT in Hungary equals to 5-6% of the country’s GDP.

Read more in Hungarian here. The original text was posted on 13 February 2014.