Naples: Seven people under investigation for fictitious tax credits worth €133 million, assets seized.

A freeze on tax credits totaling over €133 million and a precautionary seizure of assets worth a total of €1.535.160. This is the result of the investigative activity conducted by the Naples Financial Police, on behalf of the Public Prosecutor's Office at the Court of Nola, and culminating in the execution of the order issued by the investigating judge.

The operation was conducted by the Casalnuovo di Napoli Finance Police as part of a tax audit of a sole proprietorship in Somma Vesuviana, active in the construction materials trade. The investigations allegedly uncovered a series of business relationships with individuals who, according to investigators, lacked actual operational headquarters and were already burdened by previous tax irregularities.

The core of the investigation concerns several invoices that, according to the prosecution, were allegedly issued for transactions that were never actually carried out. This mechanism would have allowed the audited company to obtain significant tax savings.

The "paper" companies and the DTA credits

The Guardia di Finanza then turned its attention to the supplier network. An analysis of tax records and corporate accounts revealed three companies believed to be inactive, two based in Naples and one in the province of Latina, identified by investigators as "shell companies."

According to the investigation, the three companies allegedly filed fraudulent tax returns with the aim of generating millions of dollars in tax credits, which could then be used to offset taxes owed or transferred to third parties.

At the heart of the dispute is the Deferred Tax Asset (DTA) mechanism, tax credits resulting from the conversion of certain prior tax losses. This instrument was also envisaged by the legislator as part of the measures adopted during the pandemic to support the production system and strengthen businesses' liquidity during a period of severe economic hardship.

It is precisely on this mechanism that, according to investigators, the alleged fraudulent operation under investigation was built.

Seizure of assets

The investigating judge of the Nola Court has ordered the precautionary seizure of seven suspects, identified by investigators as de facto and de jure directors of the companies involved.

The measure affected three properties, company shares, and financial assets, with a total value of over €1,5 million. At the same time, a timely freeze was ordered on tax credits deemed fictitious, amounting to €133.198.312.

This measure is intended to prevent the disputed credits from being further used for set-off or transferred to third parties, thus preventing the alleged mechanism from having further effects on the tax system.

The investigation is still in the preliminary phase

The matter now remains pending the investigation by the Nola Prosecutor's Office. The criminal proceedings are currently in the preliminary investigation phase, and the charges will be subject to subsequent procedural review.
Therefore, the principle of presumption of innocence applies to all suspects: any criminal liability can only be established with a final conviction.