An investigation into tax evasion has led to raids at a major sports brand’s German headquarters, covering customs and sales tax concerns.
- The European Public Prosecutor’s Office is examining potential tax evasion issues linked to customs duties and import sales tax.
- Prosecutors and customs agents targeted various locations, including personal residences, suspecting damages exceeding €1.1bn.
- The unnamed company, understood to be Adidas, has been cooperating with authorities despite different legal interpretations.
- The financial impact of the investigation is considered minimal by the company, which has been aware of the issue for years.
In a significant move, German prosecutors and customs investigators have conducted raids on a prominent sportswear company’s headquarters and other sites. This action is part of an ongoing investigation into alleged tax evasion involving substantial sums related to customs duties and import sales taxes. The Financial Times has reported on this development, noting the involvement of the European Public Prosecutor’s Office (EPPO), although it did not formally identify the company as Adidas.
The EPPO has stated that it is conducting a criminal investigation into a German sportswear corporation, with suspicions centering on tax evasion concerning customs and import sales taxes. Despite the EPPO not naming any company directly, Adidas has confirmed the raids on its facilities. A spokesperson for the company has indicated their full cooperation with the authorities, providing all necessary documents and information to assist the investigation.
The searches encompassed multiple company sites, the primary headquarters in Herzogenaurach, and even some employees’ residences. The authorities suspect that the cumulative tax evasion might exceed €1.1 billion. This high-profile inquiry highlights significant financial and legal implications for the organization involved.
Despite the gravity of the accusations, Adidas has expressed confidence that the investigation will not result in significant financial consequences. The company has been aware of the investigations and attributes the situation to varying interpretations of tax laws between German and European authorities. Throughout this period, Adidas has pledged to maintain a close working relationship with the customs authorities.
The investigation into alleged tax evasion continues, with the company committed to resolving the matter through cooperation with authorities.
