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VAT evasions total up to CZK 80bn

Tax evasions total ca. CZK 80bn on VAT alone, says General Financial Directorate’s general director Martin Janecek. Mr. Janecek has stated in Czech Television’s political discussion show Otázky Václava Moravce that carousel frauds and fictive reports account for two thirds of the evasions. This practice should be suppressed by the controlling VAT reports from next year. Mr. Janeèek has stated that the effect of CZK 5-7bn will come automatically after the system’s launch, as the system will reveal the most primitive tax evasions. The remaining one third of VAT evasions stems from the abridgement of revenues, which will be resolved by electronic registration of revenues.

Source: www.cianews.cz