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EU Launches New System For Tackling VAT Fraud

Source: https://tax-news.com/news/EU_Launches_New_System_For_Tackling_VAT_Fraud____97116.html - May 24, 2019

The European Commission has announced the launch of the Transaction Network Analysis tool, a new system to enable EU member states to rapidly exchange and jointly process VAT data.

Tax Commissioner Pierre Moscovici said: "Criminal VAT fraud is one of the major issues facing our public finances today and its eradication should be a top priority for EU governments. This new tool will increase the speed at which authorities can uncover and act on suspicious activity."

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Category: General Business