EU ROUND UP – EU REFORMS VAT SYSTEM TO SQUEEZE OUT FRAUD, AS LATEST REPORTS INDICATE FIGHT AGAINST FINANCIAL CRIME IS STILL FLAILING
November 1st, 2019
THE EUROPEAN Union (EU) Council of Ministers has reached political agreement on creating a new EU-wide e-commerce VAT transaction database, which EU member states hope will help fight fraud. The move comes as a European Commission report indicates that the EU’s expensive battle against fraud continues to struggle to achieve results. As for the new reforms, a council memorandum noted it involved amending the EU’s VAT directive and the EU regulation on strengthening administrative cooperation on fighting VAT fraud – see ...
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