Hartley Foster and Michael Anderson Tax Investigations and Disputes DLA Piper Rudnick Gray Cary UK LLP comment on the 'MTIC damages group litigation'
Figures recently released by the National Audit office show that VAT revenues fell in the last financial year. This is the first time that this has occurred since the tax was introduced. According to HMRC and the Government the principal culprit is Missing Trader Intra-Community (MTIC) fraud. Indeed it has been suggested that this fraud has become so prevalent that it has distorted British trade figures. That it is a serious problem not just in the UK but in other Member States too has been recognised by the European Commissioner for Taxation Lázló Kovács who recommended in May 2006 (see IP/06/697) that 'drastic action'...
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Hartley Foster and Michael Anderson Tax Investigations and Disputes DLA Piper Rudnick Gray Cary UK LLP comment on the 'MTIC damages group litigation'
Figures recently released by the National Audit office show that VAT revenues fell in the last financial year. This is the first time that this has occurred since the tax was introduced. According to HMRC and the Government the principal culprit is Missing Trader Intra-Community (MTIC) fraud. Indeed it has been suggested that this fraud has become so prevalent that it has distorted British trade figures. That it is a serious problem not just in the UK but in other Member States too has been recognised by the European Commissioner for Taxation Lázló Kovács who recommended in May 2006 (see IP/06/697) that 'drastic action'...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
