EU Proposes Stronger Cooperation to Combat VAT Fraud and Strengthen Anti-Fraud Agencies

• The European Commission has proposed a legislative amendment to strengthen cooperation between EPPO, OLAF, and Member States to fight VAT fraud.
• The proposal establishes a legal basis for information exchange and access to VAT data, aiming to improve detection and reduce financial losses from fraud.
• In 2023, VAT losses from Missing Trader Intra-Community (MTIC) fraud were estimated between €12.5 billion and €32.8 billion, with Eurofisc detecting €12.7 billion in fraudulent transactions.
• The amendment seeks to provide EPPO and OLAF with direct, centralized access to VAT information and simplified communication with Eurofisc, addressing current gaps in cross-border investigations.
• The proposal will be submitted to the European Parliament and Council for adoption.

Source: taxheaven.gr

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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