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Business center construction boiler room. Photo by Vladimir Ivanovo (V)
The State Tax Inspectorate (STI) states that it has discovered a network of various companies in the construction sector, in which the value added tax (VAT) of 650,000 EUR may have been hidden in chain transactions.
According to ITS, construction and commerce, restoration, business consulting, etc. In a total of two decades, the companies participated in the so-called chain transactions and in the short term they can hide around 650,000 EUR of VAT. The media has been transferred to security for further investigation.
These schemes helped detect VAT account fact registration data in the i.SAF system.
About a third of construction companies are considered risky due to possible VAT evasion. The VAT gap is important not only in the construction sector itself, but also in the activities of closely related companies. The functionality of i.SAF enables VAT theft schemes to be identified promptly and with a relatively small workload, exchange information directly with law enforcement agencies and recover unpaid taxes from the budget, the report quotes Egl Ramanauskien , Director of the ITS Control Department.
Acceptance of ITS expenses in areas related to the construction sector: in addition to risky construction companies, wholesale and retail trade of construction materials, developers of real estate projects, especially luxury builders, companies involved in High-value public procurement, sales agents, and brokers are closely monitored. An example of the monitoring result, when the administrator carried out a tax investigation into a company that develops more than just a luxury construction project in Vilnius and Kaunas, quickly clarified the statements and paid an additional budget of more than € 350,000 in VAT.
The main criteria to assess the risk of companies in the construction sector (in a broad sense) are the VAT gap, the inadequate sales / purchases ratio, discrepancies in the tax return data and low profitability. In addition, mining reports prepared by the Lithuanian Geological Survey, etc. are analyzed. data, as well as public information, such as the territorial emblem of the construction site, the efforts of the public intermediary to find builders for contractors, etc., says E. Ramanauskien.
During the last two years, 1,144 companies in the construction sector were affected by various measures applied by the ITS, the result of which was that the amount of taxes paid in the controlled companies increased by a third, to LTL 22 million. EUR (only personal income tax declared over 10 million euros), declared income of 10% (up to 116 million euros). The most common irregularities detected during the control were non-countable income, unjustified increase in amounts and VAT exchange, illegal work or similar cases of attempted tax evasion.
2020 The STI has identified the construction, used car, repair and auto parts, dental services, e-commerce, catering and rural tourism sectors as priority areas for access and control.
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