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The G20, the OECD and the EU have taken several initiatives to improve transparency and exchange of information to combat tax avoidance and tax evasion, including VAT fraud. A coordinated international approach seems to be the only solution to effectively fight VAT fraud within the EU. An analysis of the developments in international cooperation, however, shows that Member States (MS) seem to underuse other means of international cooperation that exist besides the exchange of information. The exchange of information in its turn seems to be mainly used within the national context. The authors conclude that due to a lack of coherence in the 'control' systems of MS and due to the fact that 'coordination' does not always mean 'collaboration', MS still seem to address this 'European' problem mainly on a national level which does not lead to a substantial decrease of the level of VAT fraud (including a lower tax gap) within the EU.
Book Synopsis Tackling VAT Fraud in Europe : the International Puzzle Continues ... by : E.C.J.M. van der Hel-van Dijk
Download or read book Tackling VAT Fraud in Europe : the International Puzzle Continues ... written by E.C.J.M. van der Hel-van Dijk and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The G20, the OECD and the EU have taken several initiatives to improve transparency and exchange of information to combat tax avoidance and tax evasion, including VAT fraud. A coordinated international approach seems to be the only solution to effectively fight VAT fraud within the EU. An analysis of the developments in international cooperation, however, shows that Member States (MS) seem to underuse other means of international cooperation that exist besides the exchange of information. The exchange of information in its turn seems to be mainly used within the national context. The authors conclude that due to a lack of coherence in the 'control' systems of MS and due to the fact that 'coordination' does not always mean 'collaboration', MS still seem to address this 'European' problem mainly on a national level which does not lead to a substantial decrease of the level of VAT fraud (including a lower tax gap) within the EU.
Book Synopsis Tackling Intra-community VAT Fraud by :
Download or read book Tackling Intra-community VAT Fraud written by and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Traders may not pay the correct amount of Value Added Tax (VAT) for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03. Following on from the NAO's report (HCP 357, session 2003-04; ISBN 0102927375), the Committee's report examines the scale of losses; ways of preventing and detecting fraud and other non-compliance; and methods of investigating and dealing with fraudsters. Findings include: there is scope for greater data sharing with the Inland Revenue to detect traders who are evading VAT by operating in the shadow economy (likely to be improved with the creation of the new revenue department); data sharing with other member states is particularly important in tackling missing trader fraud; more investigations and prosecutions for all types of VAT fraud would be cost effective; and Customs should make greater use of sanctions against under-declarations by accountants, lawyers and tax advisers, whilst working with the business community and professional bodies concerned to agree criteria for reporting and the remedial action expected.
Book Synopsis Tackling VAT Fraud by : Great Britain. Parliament. House of Commons. Committee of Public Accounts
Download or read book Tackling VAT Fraud written by Great Britain. Parliament. House of Commons. Committee of Public Accounts and published by The Stationery Office. This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traders may not pay the correct amount of Value Added Tax (VAT) for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03. Following on from the NAO's report (HCP 357, session 2003-04; ISBN 0102927375), the Committee's report examines the scale of losses; ways of preventing and detecting fraud and other non-compliance; and methods of investigating and dealing with fraudsters. Findings include: there is scope for greater data sharing with the Inland Revenue to detect traders who are evading VAT by operating in the shadow economy (likely to be improved with the creation of the new revenue department); data sharing with other member states is particularly important in tackling missing trader fraud; more investigations and prosecutions for all types of VAT fraud would be cost effective; and Customs should make greater use of sanctions against under-declarations by accountants, lawyers and tax advisers, whilst working with the business community and professional bodies concerned to agree criteria for reporting and the remedial action expected.
Book Synopsis Tackling Intra-community VAT Fraud by :
Download or read book Tackling Intra-community VAT Fraud written by and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
In a May 31, 2006 Communication to the Council, the European Parliament, and the European Economic and Social Committee, the European Commission indicated a need to develop a coordinated strategy to improve the fight against fiscal fraud [COM (2006) 254 final]. Although the Communication considers fiscal fraud broadly (VAT, excise duties and direct taxes) the most pressing need seems to be for a VAT strategy that will effectively deal with carousel fraud. This paper considers thirteen proposals that deal with missing trader intra-community fraud (MTIC): (1) Common VAT (origin system) (2) Vanistendael's foreign tax offices proposal (3) CVAT (Compensating VAT) (4) VIVAT (Variable Integrated VAT) (5) Dual VAT - HST version (6) Dual VAT - QST version (7) PVAT (Prepaid VAT) (8) Mittler Model (9) Reverse charge model - with input tax settlement (10) Reverse charge model - with joint and several liability (11) Pay first model - non-cash payment (trust account) (12) Pay first model - cash payment (tax stamp system) (13) Digital VAT - D-VAT.
Book Synopsis Tackling VAT Fraud by : Richard Thompson Ainsworth
Download or read book Tackling VAT Fraud written by Richard Thompson Ainsworth and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a May 31, 2006 Communication to the Council, the European Parliament, and the European Economic and Social Committee, the European Commission indicated a need to develop a coordinated strategy to improve the fight against fiscal fraud [COM (2006) 254 final]. Although the Communication considers fiscal fraud broadly (VAT, excise duties and direct taxes) the most pressing need seems to be for a VAT strategy that will effectively deal with carousel fraud. This paper considers thirteen proposals that deal with missing trader intra-community fraud (MTIC): (1) Common VAT (origin system) (2) Vanistendael's foreign tax offices proposal (3) CVAT (Compensating VAT) (4) VIVAT (Variable Integrated VAT) (5) Dual VAT - HST version (6) Dual VAT - QST version (7) PVAT (Prepaid VAT) (8) Mittler Model (9) Reverse charge model - with input tax settlement (10) Reverse charge model - with joint and several liability (11) Pay first model - non-cash payment (trust account) (12) Pay first model - cash payment (tax stamp system) (13) Digital VAT - D-VAT.
Book Synopsis Public Accounts Committee: HM Customs and Excise: Tackling VAT Fraud. Public Accounts Committee Thirty-sixth Report with Proceedings, Evidence (HC 512-i Not Printed Separately) and Appendices by :
Download or read book Public Accounts Committee: HM Customs and Excise: Tackling VAT Fraud. Public Accounts Committee Thirty-sixth Report with Proceedings, Evidence (HC 512-i Not Printed Separately) and Appendices written by and published by . This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
On Thursday, March 29, 2007 the European Commission, Directorate-General for Taxation and Customs Union, will host a one-day Conference on Fiscal Fraud - Tackling VAT Fraud: Possible Ways Forward. The conference is based on the Communication of May 31, 2006 explaining the need to develop a coordinated strategy to improve the fight against fiscal fraud. This paper indicates that the EU examination of carousel fraud points the way forward for advocates of a US VAT as well. About 40% of EU VAT fraud appears to be 'missing trader intra-community' (MTIC) or carousel fraud. The best estimates of EU losses to carousel fraud are put at 23 billion euros annually. UK studies put domestic losses from carousel fraud at 2.98 to 4.47 billion euros.Fraud concerns understandably resonate deeply among American advocates of a federal level VAT in the US. It needs to be taken into consideration that inserting a national credit-invoice VAT into the US fiscal fabric would be to set out the welcome mat for an American carousel fraud, as well as the more traditional VAT frauds. The vulnerability of a US VAT to carousel fraud is a direct result of the American tendency for national, state and local tax systems to 'piggy backing' on one another is taken into account.
Book Synopsis American VAT - The Carousel Fraud Threat by : Richard Thompson Ainsworth
Download or read book American VAT - The Carousel Fraud Threat written by Richard Thompson Ainsworth and published by . This book was released on 2019 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: On Thursday, March 29, 2007 the European Commission, Directorate-General for Taxation and Customs Union, will host a one-day Conference on Fiscal Fraud - Tackling VAT Fraud: Possible Ways Forward. The conference is based on the Communication of May 31, 2006 explaining the need to develop a coordinated strategy to improve the fight against fiscal fraud. This paper indicates that the EU examination of carousel fraud points the way forward for advocates of a US VAT as well. About 40% of EU VAT fraud appears to be 'missing trader intra-community' (MTIC) or carousel fraud. The best estimates of EU losses to carousel fraud are put at 23 billion euros annually. UK studies put domestic losses from carousel fraud at 2.98 to 4.47 billion euros.Fraud concerns understandably resonate deeply among American advocates of a federal level VAT in the US. It needs to be taken into consideration that inserting a national credit-invoice VAT into the US fiscal fabric would be to set out the welcome mat for an American carousel fraud, as well as the more traditional VAT frauds. The vulnerability of a US VAT to carousel fraud is a direct result of the American tendency for national, state and local tax systems to 'piggy backing' on one another is taken into account.
In recent decades, the Member States of the European Union have registered a huge increase of spectacular and highly organized VAT fraud. Whilst the tax authorities are fighting hard to stop this phenomenon, fraud has become an established industry. In this article, the author analyses several measures to tackle VAT fraud.
Book Synopsis Pragmatic Policies to Tackle VAT Fraud in the European Union by : Fabrizio Borselli
Download or read book Pragmatic Policies to Tackle VAT Fraud in the European Union written by Fabrizio Borselli and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the Member States of the European Union have registered a huge increase of spectacular and highly organized VAT fraud. Whilst the tax authorities are fighting hard to stop this phenomenon, fraud has become an established industry. In this article, the author analyses several measures to tackle VAT fraud.
Value Added Tax (VAT) is a self assessed tax on the supply of goods and services, collected by 1.7 million registered traders and paid over to Customs.Traders may not pay the correct amount of VAT for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03, including substantial nonfraud losses. The Government has set Customs a target to stop the long-term growth in the size of the overall VAT gap, and to cut it from 15.7 per cent in 2002-03 to 12 per cent of the total amount that could be theoretically collected from VAT by 2005-06. This NAO report examines Customs' approach to detecting, investigating and preventing VAT fraud; tackling the most serious type of VAT fraud known as VAT missing trader intra-Community fraud; and tracking those traders operating in the shadow economy who fail to register to pay VAT.
Book Synopsis Tackling Vat Fraud,Hm Customs and Excise by : Great Britain. National Audit Office
Download or read book Tackling Vat Fraud,Hm Customs and Excise written by Great Britain. National Audit Office and published by . This book was released on 2004 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value Added Tax (VAT) is a self assessed tax on the supply of goods and services, collected by 1.7 million registered traders and paid over to Customs.Traders may not pay the correct amount of VAT for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03, including substantial nonfraud losses. The Government has set Customs a target to stop the long-term growth in the size of the overall VAT gap, and to cut it from 15.7 per cent in 2002-03 to 12 per cent of the total amount that could be theoretically collected from VAT by 2005-06. This NAO report examines Customs' approach to detecting, investigating and preventing VAT fraud; tackling the most serious type of VAT fraud known as VAT missing trader intra-Community fraud; and tracking those traders operating in the shadow economy who fail to register to pay VAT.
Book Synopsis New Measures to Tackle VAT Fraud by : Great Britain. HM Revenue & Customs
Download or read book New Measures to Tackle VAT Fraud written by Great Britain. HM Revenue & Customs and published by . This book was released on 2006 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
