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Two interconnected Kaunas companies engaged in the real estate development business fell into the hands of law enforcement. The pre-trial investigation was initiated according to information from the Kaunas County State Prosecutor’s Office.
The two directors who took turns running one of the companies are accused of fraudulently managing the company’s accounts and providing incorrect income data.
During the three years of its operation, the administrators of the company, which has built a well-known block of flats and cabins in Kaunas, did not provide estimates of the value of the residential houses built, estimates or acts of work performed.
Officials found that both the first and subsequent directors did not record sales of apartments, flats and land in the records, nor did they provide mandatory data to state institutions and registries. It is also alleged that the directors did not see a need for proper accounting as not all asset sales were recorded in the accounting records and VAT invoices were not issued when the assets were sold to clients.
Data collected by FNTT officials shows that directors may have provided incorrect income data to public authorities to avoid having to pay VAT and, as a result, may have failed to pay more than 201 thousand to the state in more than three years. EUR VAT.
Another Kaunas real estate development company also attracted the attention of officials due to messy accounting.
According to the available information, the director of this company was a shareholder of the aforementioned company, hired the company for reconstruction work and amortized the costs at the costs of the company he managed. The director could not justify the work for which he had issued 6 invoices to the French company and had no other documents.
From the data collected, it can be concluded that the director casually kept the mandatory records, did not include the cash received in the accounting, did not include in the company records the sale of real estate to natural and legal persons for a total of 232 thousand. euros.
It is estimated that in almost two years, almost 19 thousand. EUR VAT.
The three directors were charged with fraudulent accounting and misrepresentation of income. During the pre-trial investigation, property rights were restricted by more than 184,000. euros.
The prosecutor of the 2nd Prosecution Division of the Kaunas Regional Prosecutor’s Office, who organized the pre-trial investigation, referred the case to the Kaunas Regional Court.
The most severe penalty for fraudulent accounting is imprisonment for up to four years. Attempting to avoid taxes by providing incorrect income data when the tax amount exceeds 750 MSL is punishable by the most severe prison term of up to eight years.
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