Tax specialists exposed overstatement of inventory value totaling more than 14 million UAH

Tax specialists exposed illegal overstatement of inventory value used in the execution of works at the expense of local budget.

Specialists of the Anti-money laundering department of Main Directorate of STS in Kharkiv region found out that the enterprise – executor of works purchased inventory of foreign production from the business entity ordered by local self-governments. The latter documented purchase of such products from enterprises with fictitiousness signs at a price that significantly exceeded their market value. Such manipulations led to an overstatement of the purchased inventory value totaling 14.7 million UAH.

As follows, funds received from the local budget were not used for their intended purpose, but by transferring to the supplier’s current accounts as payment for products and materials, which actually have an artificially inflated markup created by increasing the sale price of products from the official producer’s representative in Ukraine.

Criminal proceeding under Part 3 Article 191 of the Criminal Code of Ukraine was registered in the Unified register of pre-trial investigations.