Earlier this week, the European Public Prosecutor's Office (EPPO) announced that it is currently investigating a suspected tax evasion case linked to steel imports from a mechanical engineering company to Germany. Allegedly, the company falsely declared the origin of steel products as the UK in over 100 customs clearance applications. 

According to the investigation, the steel came from India and was rerouted through the UK before being imported into Germany. In view of the current EU customs regulations, declaring the steel as being of Indian origin would have faced 25% higher import duties.  The resulting losses to public finances are estimated at several hundred thousand euros.

The EPPO is the independent prosecutorial body of the European Union. It is responsible for investigating, prosecuting, and trying crimes against EU financial interests.