Published On: Thu, Mar 9th, 2017

EU imposes huge fine on the UK over customs fraud  


In what could be termed as a provocative move, the European Union is planning to impose a huge fine of nearly 1.7 billion Euros on the United Kingdome for the customs fraud which has cost the union a gigantic sum of around 1.7 billion Euros in lost duties between the year 2013 and 2016 as the UK authorities have failed to check the Chinese criminal gangs operating in the European country from engaging in the tax fraud. An investigation conducted by the European Union Anti-Fraud office recently found that the Chinese criminal gangs operating in the UK imported the shoes and clothes materials at a low value using fake invoice number in order to evade the tax.

From there, these materials were sent to other regions across the Europe, particularly to the European black markets. In this illicit operation, the UK acted as a transition hub for this tax fraud. As per the report, the importers of this goods gained huge profit by evading tax from this criminal operation, which cashed in the ignorance or inefficiency of the UK officials. It is said that the UK officials are likely to challenge the provocative allegation raised against them by the investigative team powered by the European Union. Definitely, this issue is likely to trigger heated debates across the European region, which has been witnessing serious political fluctuations for the last few years.




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EU imposes huge fine on the UK over customs fraud