EU Member States to Crack Down Harder on VAT Fraud
This story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.4 Articles
4 Articles
European Council | VAT fraud: Council agrees to strengthen cooperation with EU investigative bodies | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources
The Council today provisionally agreed new rules to strengthen the fight against value added tax (VAT) fraud in the EU by ramping up cooperation between member states, the European public prosecutor’s office (EPPO) and the European anti-fraud office (OLAF). The new framework will give EPPO and OLAF more direct access to key VAT data on cross-border business transactions in the EU, including information held by Eurofisc – the EU’s anti-VAT fraud …
European finance ministers have decided to extend access to VAT data for European prosecutors and investigators.
The new framework will allow these bodies to "more directly" access data on cross-border transactions, including information from Eurofisc, the EU network against VAT fraud, with the aim of improving the detection of illicit activities.
EU member states will crack down harder on VAT fraud in the EU, finance ministers decided on Tuesday. To this end, the member states will intensify cooperation with the European Public Prosecution Service (EPPO) and the European Anti-Fraud Office (OLAF). The member states and the EU lose between 12.5 billion and 32.8 billion euros annually due to VAT fraud.
Coverage Details
Bias Distribution
- There is no tracked Bias information for the sources covering this story.
Factuality
To view factuality data please Upgrade to Premium
