The auditors of the Independent Public Revenue Authority have identified a significant fraud circuit and the issuance of virtual invoices.

This is a circuit that, in 2019 and 2020, circulated a total of 5,271 virtual invoices, the total net value of which exceeds 48 million euros.

The circuit, identified by AADE, operated on the basis of two sole proprietorships: One with the object of refrigeration works and headquartered in Nafplio and the other with the object of holding an estate for holding events and headquartered in Athens.

In 2019, the two companies supplied the following two companies, with the same manager, with 2,165 virtual invoices, with a net value of 15.3 million euros, plus VAT of 3.7 million euros, to the following two companies, with the same manager: of buildings and headquartered in Athens and a one-person IKE, with the purpose of providing security services and headquartered in Athens.

These businesses used the virtual invoices, both to cover revenue from issuing virtual tax information to third parties, and to reduce their taxable income.

In this way, Monoprosopi EPE covered in 2019 the issuance of 2,295 virtual invoices, with a total net value of 12 million euros, plus VAT of 2.9 million euros, to 240 entities. Accordingly, it covered in 2020 the issuance of 275 virtual invoices, with a total net value of EUR 5.4 million, EUR 5.3 million, plus VAT of EUR 1.3 million, to 16 entities.

Accordingly, the Sole Proprietorship created expenses to cover the income from the exercise of its activity in 2019, while at the same time it also issued 86 virtual invoices, with a net value of 240,000 euros, plus VAT of 58,000 euros.

Complaints have been filed in all cases. At the same time, Information Bulletins have been sent to the competent DOU and ELKE for all 344 entities, which were the final recipients of the issued virtual tax data.

A fifth entity is also included in the circuit, for which the audit is ongoing.

The investigation continues.