- The Swedish Tax Agency halted incorrect VAT payments totaling SEK 534 million last year, suspecting that organized crime networks exploit companies to commit fraud through false invoices, with consistent losses of over SEK 500 million in recent years.
- The agency employs a risk-based approach for in-depth reviews of VAT returns and emphasizes that incorrect VAT payments not only harm public finances but also fund other criminal activities, as stated by Kristoffer Bergdal from the agency.
- In response to VAT fraud, the EU has introduced new rules under “VAT in the Digital Age” (Vida), mandating electronic invoicing and digital transaction reporting for cross-border trade by 2030, which the Swedish Tax Agency believes would significantly mitigate current fraud risks if adopted nationally.
Source: skatteverket.se
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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