Cyprus Holding Company Behind Pizza Fan Comes Under Spotlight in €25m Greek VAT Probe
32 Articles
32 Articles
Cyprus holding company behind Pizza Fan comes under spotlight in €25m Greek VAT probe
A Cyprus-registered holding company controls Greece’s Pizza Fan restaurant chain, which has been hit by an alleged €25 million VAT fraud, nationwide store closures and uncertainty over the future of a franchise network whose annual sales exceed €100m. The Cyprus connection runs through Fanatics Pizza Deliveries and Food Services Limited, incorporated in Nicosia on March […]
A former employee's complaint reportedly unraveled the tangle of the Pizza Fan case, which did not pay VAT of 25 million euros. As reported by iefimerida.gr, the alleged leader, who was also the main shareholder of the subsidiary in Cyprus, had maintained a single call center for all orders, even if there were franchise stores. During orders, they asked customers whether they would pay by card or cash. In case they chose cash, they did not sen…
Protothema
PentapostagmaThe... seemingly standard question "with cash or card" triggered an entire VAT non-return mechanism - How the system worked
Pizza Fan, using illegal software, allegedly failed to pay the state at least 25 million euros in VAT since 2022. The post How Pizza Fan's software worked that hid receipts from the tax office appeared first on in.gr.
Under the microscope are the “black books” that were found at the headquarters of the Pizza Fan business. The findings of the audits shed light on systematic VAT non-payment practices, which appear to extend back to 2016. The authorities' investigation focuses on the exact scope of financial violations and the recording of the company's undeclared income.
2,500 Pizza Fan employees are in distress, as over 100 stores have stopped accepting orders.
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