Details of SIPA operation: Over 12.6 million KM laundered through fake invoices

(Patria) - The State Investigation and Protection Agency (SIPA) has released new details about the operation conducted this morning at multiple locations in Bosnia and Herzegovina.

The operation, we remind you, was carried out on suspicion of "Association for the commission of criminal offenses" in connection with the criminal offenses of "Tax Evasion" and "Money Laundering" under the Criminal Code of BiH.

SIPA carried out this operational action, in cooperation with the Indirect Taxation Authority, at several locations in the areas of East Sarajevo, Sarajevo, Kiseljak, Visoko, Banja Luka, and Zvornik.

The operation was carried out to execute several orders from the Court of BiH for the search of apartments, other premises, movable property, and persons, and for the temporary seizure of items, due to the existence of grounds for suspicion that the aforementioned criminal offenses have been committed.

"According to the collected evidence, there are grounds for suspicion that several persons have associated to commit criminal offenses prescribed by the Criminal Code of BiH, and by entering into mutual business relationships, they have issued invoices for fictitious trade of goods and services in a total amount of at least 12,622,853 KM with VAT, recorded them in their business books and declared them in VAT returns, thereby carrying out VAT refunds or enabling other legal entities to reduce their tax obligations based on VAT.

The aforementioned persons further illegally transferred the received money based on the false representation of turnover and the obtained VAT refund," SIPA stated.

The operational action was carried out under the supervision of the acting prosecutor of the Prosecutor's Office of BiH, with the support of the Ministries of Internal Affairs of Central Bosnia Canton, Zenica-Doboj Canton, Sarajevo Canton, and Republika Srpska.