
Crypto Investment Entry and Exit Strategies of Institutional Investors
Section: Business
The Irish customs authorities have confiscated a significant quantity of electric bicycles and scooters that were imported unlawfully into the European Union. This operation was coordinated by the European Anti-Fraud Office (OLAF), highlighting ongoing efforts to combat illegal imports across the EU.
During the operation, customs officials conducted searches at two warehouses located in Wexford, uncovering 4,000 E-bikes along with a limited number of electric scooters. Additionally, various accessories and spare parts were also found. The Revenue Commissioners of Ireland suspect that these e-bikes and scooters were intended for sale in both the national and broader EU markets.
According to OLAF, the total value of the seized goods is estimated to be approximately EUR4.5 million. This action is part of a larger campaign in which OLAF collaborates with national authorities to address the avoidance of import duties, anti-dumping, countervailing duties, and value-added taxes.
OLAF's initiatives focus on cases where goods are misdeclared or falsely claimed to have left the EU. Upon arrival in the EU, these items were delivered to e-commerce warehouses and subsequently sold without the requisite value-added tax payments, giving the perpetrators an unfair competitive advantage. In this instance, the EU has reportedly lost around EUR2.3 million due to unpaid import duties.
Ville Itälä, the Director-General of OLAF, emphasized the importance of collaboration between OLAF and member state authorities in protecting the financial interests of the EU. He noted that through close cooperation, OLAF is able to investigate and halt those attempting to circumvent EU regulations.
Section: Business
Section: Arts
Section: Arts
Section: Business
Section: Business
Section: Arts
Section: Health
Section: Arts
Section: News
Section: News
Health Insurance in Germany is compulsory and sometimes complicated, not to mention expensive. As an expat, you are required to navigate this landscape within weeks of arriving, so check our FAQ on PKV. For our guide on resources and access to agents who can give you a competitive quote, try our PKV Cost comparison tool.
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