Scandal in the luxury car trade: tax fraud worth millions uncovered!

Scandal in the luxury car trade: tax fraud worth millions uncovered!

In a large-scale tax fraud case in the luxury car trade, the tax investigation team, in collaboration with the Ministry of Finance, uncovered a system of tax evasion that extended throughout Austria. The alleged damage amounts to around one million euros meinkreis.at reported. The focus of the investigation was on a company that operated in the form of a GmbH and is said to have systematically evaded taxes.

The investigation, which spanned several years, led to extensive searches at seven different locations in Vienna and Upper Austria. Not only were numerous documents and data carriers seized, but also 34 bank accounts at five credit institutions were opened. In order to determine the full extent of the evasion, extensive witness interviews and national and international requests for information were initiated. The main suspects manipulated the vehicle supply chains for Italian and German luxury cars by involving close people in order to camouflage the fraud, this also reports Federal Ministry of Finance.

Complex fraud system

The system not only included forged documents, but also manipulated accounting records. Incoming invoices were changed to simulate higher purchase prices and additional expenses. At the same time, the outgoing invoices were falsified to show lower revenues. The income from the luxury car trade was shifted to the private assets of the accused without correctly paying the due taxes - such as sales tax, corporate income tax and capital gains tax.

Another interesting aspect of the case is the fact that several luxury vehicles were declared as alleged demonstration cars. Through this audacity, the perpetrators attempted to be exempt from the standard consumption tax and at the same time deduct input tax. In reality, however, the vehicles were used as personal assets, as by OE24 reported.

Better control required in the industry

Systematic tax evasion is not just an issue in the luxury car trade. In order to prevent similar incidents, the ongoing investigation also highlights the need for stricter action against tax fraud in other sectors. Only recently were searches carried out at taxi companies in Vienna that were suspected of evading large amounts of taxes. Valuable items and cash were seized, which illustrates the scale of the problem.

Christian Ackerler, Head of the Anti-Fraud Office, emphasizes the central importance of combating tax and duty fraud for fairness and the rule of law in the economy. The discovery of these illegal practices sends a strong signal to everyone who wants to defraud Austrian taxpayers of their money. Finance Minister Markus Marterbauer also underlines the importance of these measures and their impact on honest companies.