Romania conducts “Attacks” after Crypto Tax Evasion Investigation Exceeds 50 Million
Key Points: Authorities in Romania have conducted more than a dozen raids against individuals suspected of hiding earnings from bitcoin businesses.
According to a partner of the legal firm Iordachescu & Asociatii, addresses were verified in Bucharest, as well as the counties Dambovita, Ilfov and Olt. The information was provided to Romania Journal by the Iordachescu & Asociatii.
Romanian authorities have conducted more than a dozen raids against people who are accused of hiding earnings from bitcoin businesses. After an earlier probe which found that crypto dealers had failed to register digital assets worth over $50 million, the searches were conducted in late 2022. According to Cristian Roman, partner in Iordachescu & Asociatii who provided the information to Romania Journal, addresses were checked in Bucharest and the counties of Ilfov and Olt. The lawyer was referring specifically to information provided to him by Romanian authorities. Officials in the EU country claim that 19 of the targeted individuals created or joined an organised crime organization with the aim of tax evasion. Authorities claim that the digital currency transactions they used to conceal their taxable income were used to conceal the income. Their efforts cost the state budget 3,000,000 Romanian lei (almost $650,000) according to preliminary estimates. The Tax Administration is trying to increase compliance among cryptocurrency tax payers. After the National Agency for Fiscal Administration’s tax fraud unit launched an investigation this summer into crypto trading proceeds between 2016 and 2021 through various platforms like Binance, Kucoin Maiar, Bitmart and FTX, Tax investigators found that 63 Romanian residents received almost EUR131 million in income at the time. They also found that the individuals had failed to register EUR48 million in digital assets on tax forms. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comChubbiCoincu NewsTags: cryptomarketRomaniataxTax Evasion