- The European Court of Auditors reports that the EU’s financial interests are inadequately protected in simplified customs procedures for imports, highlighting serious shortcomings in Member States’ checks on VAT collection related to these procedures.
- The report identifies challenges in cooperation between customs and tax authorities as a key factor contributing to the inability to effectively prevent and detect import VAT fraud, particularly under the “release for free circulation” and “import one-stop-shop” procedures.
- In response, the European Commission has largely accepted the Court’s recommendations, indicating ongoing efforts to strengthen the regulatory framework, improve cooperation among Member States, and enhance information exchange between Eurofisc, OLAF, and Europol to combat VAT fraud more effectively.
Source Taxlive
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