Estonia grapples with VAT fraud
Sun 20th Oct 2013
Estonia has introduced a number of measures to help eliminate VAT fraud – an €222m problem for the newest member of the Euro currency. This is causing an increasing compliance burden on local and foreign businesses.
Anti VAT fraud measures include:
- Limits on VAT reclaims for the purchases of vehicles
- An extension of VAT refund repayment timetable with interest accruing to 60 days
- New domestic Intrastat reporting, listing sales and purchase above €1,000