EU Moves to Tighten Crackdown on VAT Fraud Worth up to €32.8 Billion a Year
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Member states move ahead with Commission proposal to reinforce data sharing in fight against cross-border tax fraud
The Council of the EU has agreed a position on a proposed amendment strengthening cooperation and VAT data sharing between national tax authorities, the European Public Prosecutor's Office (EPPO), the European Anti-Fraud Office (OLAF), and the Eurofisc network of anti-fraud experts. Fraudsters operating across borders exploit weaknesses in the tax system to avoid paying VAT, often charging consumers for VAT that is never passed on to the state. …
EU moves to tighten crackdown on VAT fraud worth up to €32.8 billion a year
EU finance ministers agreed on Tuesday to tighten efforts against VAT fraud across the bloc. Member states will strengthen cooperation with the European Public Prosecutor’s Office (EPPO) and the European Anti-Fraud Office (OLAF) as part of the crackdown. VAT fraud costs the EU and its countries between 12.5 billion euros and 32.8 billion euros each year, according to estimates.
The European Public Prosecutor's Office (EPPO) and the European Anti-Fraud Office (OLAF) are expected to gain immediate access to the information they need to launch and support investigations into suspected cross-border VAT fraud cases. The European Public Prosecutor's Office and OLAF are taking up arms against tax evasion - ΙΝΑΦΤΕΜΟΠΟΡΙΚΙ
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