The Guardia di Finanza of Genoa (Italy) have executed a preventive seizure order of over € 200 000, at the request of the EPPO, against a Ligurian company that evaded the payment of border duties by declaring a false origin of imported goods.
The Ligurian company imported tungsten electrodes to Italy. Although the electrodes were manufactured and packaged in China, they were first transferred to companies in Thailand, which, in exchange for a commission, prepared all necessary documentation to falsely certify that the goods were of Thai origin. Afterwards, the Thai companies took care of the shipment to Italy.
By declaring that the goods were produced in Thailand (instead of China), the Italian company obtained the application of a 6% duty, rather than the higher duty of 63.5% envisaged for imports of this type of product from China. Consequently, the Ligurian company guaranteed itself an illegal tax saving of over €200 000 thanks to the evasion of border duties and VAT. The owner of the company is under investigation for the crime of smuggling.
The investigation is led by the European Public Prosecutor's Office (EPPO) and is part of the activities carried out by the Guardia di Finanza to tackle the most serious and damaging fraud systems that threaten the economic and financial security of the European Union.
You can read the full press release of Guardia di Finanza here.