The detectives of the Bureau of Economic Security (BEB) have reported suspicions against the largest developer in Transcarpathia for large-scale tax evasion. The suspect sold dozens of real estate properties for cash.
This was reported by the Bureau's press service.
According to the investigation, over a period of 6 years, the entrepreneur constructed multi-apartment residential buildings with integrated commercial premises. Subsequently, he sold 62 real estate properties for cash. Later, to conceal his income, sales contracts with property owners were terminated.
“Ownership rights to 41 apartments and 21 parking spaces were registered under individuals by transferring them based on contracts and additional agreements for joint construction. The ownership rights to the real estate properties were formalized at significantly lower prices based on allegedly spent funds on construction, which did not reflect reality, and the funds previously received by the developer were essentially not returned to the buyers,” the statement reads.
Furthermore, the suspect conducted business activities without state registration as an economic entity and without registering as a value-added tax payer. This scheme allowed the developer to evade over 40 million UAH in taxes.
Some of the suspect's real estate assets have been seized.
Background. Earlier, Mind reported that the BEB uncovered the director of a private aviation company for VAT evasion in significant amounts.