151. Introduction of new measures to tackle VAT fraud.
- Author
-
Langer, Ronny and Küffner, Thomas
- Subjects
VALUE-added tax laws ,FRAUD prevention laws ,CONSUMER goods -- Law & legislation ,COMMERCIAL product marketing - Abstract
The article deals with measures adopted by the European Union (EU) and its member-states to prevent value added tax (VAT) fraud. Resolving the problem of VAT fraud is an important task for the EU and member-states in view of a report by the Europol that 100-billion € is lost each year as a result of fraud and in Germany alone, the fiscal damage amounts to nearly 17-billion €. As a response, EU member-states attempt to counter various forms of VAT fraud by applying reverse charge schemes for various consumer goods. The EU on its part, is willing to amend Article 395 Directive of the VAT Directive to hasten the process of prosecuting fraudulent transactions.
- Published
- 2012