VATupdate

Combatting the scourge of ‘VAT Carousel’ fraud

The collection of Value Added Tax (VAT) represents an integral contribution to the budget of EU states. However, for national tax agencies, the battle to ensure that individuals and companies pay their fair share remains ongoing. A recent study revealed the enormity of this task, with research showing a gap of £131 billion (€147 billion) between the VAT that should have been paid, and what was actually collected.

By Jérôme Bryssinck – Head of Government Solutions at Quantexa

Source: globalbankingandfinance.com