Peter Jenkins Global Director of Indirect Tax Ernst & Young Global reports on the Tackling VAT Fraud conference held by the Commission in Brussels on 29 March 2007
Introducing the Conference Commissioner Kovacs referring to the Lisbon growth and prosperity objectives emphasised the importance of tax in producing a level playing field and simplification for business. He then said that the scale of missing trader fraud had become organised to reach the scale of a minor industry with the VAT loss amounting to up to 10% of VAT receipts or €200 to 250 billion per year. The tax-free circulation of goods under the Single Market system and growing globalisation made it very difficult for Member States to combat the frauds particularly acting alone. There was now widespread...
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Peter Jenkins Global Director of Indirect Tax Ernst & Young Global reports on the Tackling VAT Fraud conference held by the Commission in Brussels on 29 March 2007
Introducing the Conference Commissioner Kovacs referring to the Lisbon growth and prosperity objectives emphasised the importance of tax in producing a level playing field and simplification for business. He then said that the scale of missing trader fraud had become organised to reach the scale of a minor industry with the VAT loss amounting to up to 10% of VAT receipts or €200 to 250 billion per year. The tax-free circulation of goods under the Single Market system and growing globalisation made it very difficult for Member States to combat the frauds particularly acting alone. There was now widespread...
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