Romanian Authorities Investigate HS Timber Employees in Alleged Tax Scheme

Romanian prosecutors (DIICOT) are investigating HS Timber Production Romania, a subsidiary of Austria’s HS Timber Group, for allegedly failing to declare more than $30 million worth of “overlength” lumber (about 580,000 cubic meters) between 2010 and 2017, selling it without paying taxes, and concealing proceeds through sham service contracts with its Vienna-based parent; the company says it complies with laws and is cooperating, while prior probes largely lapsed due to statutes of limitations.