Officials of two Riga companies proposed for prosecution over hidden profit and tax evasion
Officials of a building management company and a scrap metal wholesaler in Riga have been proposed for prosecution for concealing profit. The unpaid corporate income tax totals 823,240 euros.
Officials of two companies in Riga have been proposed for prosecution on suspicion of concealing the companies' real profit and evading tax payments. One company is engaged in building management, the other in wholesale trade in scrap metal.
According to the available information, by hiding profit the officials avoided paying corporate income tax (CIT) amounting to 823,240 euros. CIT is the tax companies pay on the profit they earn.
In value added tax (VAT) returns, the officials had reported fictitious transactions with foreign firms. This means the transactions shown in the returns had not actually taken place.
The source does not name the companies or the officials, and it does not say when the case might reach court.
