The European Public Prosecutor’s Office (EPPO) has announced that it has launched an investigation into suspected tax evasion linked to steel imports by a mechanical engineering company in the Rhine-Neckar region in Germany. The company is believed to have falsely declared the origin of steel products as the UK during more than 100 customs clearances.
According to the investigation, the steel was of Indian origin and had only been routed through the UK before being imported into Germany. The steel imports in question worth over €2.9 million took place over a 12-month period, starting in March 2021.
Under EU customs regulations, correctly declaring the steel as Indian would have implied 25 percent higher import duties. The resulting loss to public finances is estimated at several hundred thousand euros.