VAT news tagged as "EU VAT Fraud"

Germany

Germany confirms marketplace liability for merchants’ unpaid VAT

June 27th, 2018

Germany yesterday published the draft Annual Tax Act 2018, which includes making online marketplaces potentially liable for merchants’ unpaid VAT liabilities. This was agreed by federal finance minister in May. From 1 January 2019, marketplaces will be required to keep a record of German and non-German merchants’ German VAT certificates. Alternatively, they may hold digital confirmation …


Europe

EU consults on VAT fraud

March 24th, 2018

The European Commission has launched a consultation on the free exchange of tax data between member states to help fight VAT fraud in the area of e-commerce. It seeks to understand from the online marketplaces, tax authorities and payment companies how best to detect and prevent undeclared transactions for VAT purposes. 3 potential solutions are …


Worldwide

2018 Weaponising VAT

December 4th, 2017

Brexit. VAT fraud. Austerity straitjackets. Global tax wars. These are the colliding dynamics which in 2018 will lead to the UK, and worldwide governments, to undertake drastic measures on VAT and other taxes. This could include an emergency measure to relieve importers/exporters of potential Brexit VAT liabilities, through to the European Commission up-ending the entire …


Europe

EU proposes further VAT fraud measures

December 1st, 2017

The European Commission yesterday proposed a range of new measures aimed at combating the estimated €50billion in VAT fraud. The measures are a follow-up to the recent proposals to the wholesale reform of the EU VAT regime, including the Single EU VAT Area. Anti-VAT fraud propositions An online system for member states to share data on potential …


Europe

EU VAT fraud Public Prosecutor established by 20 states

October 9th, 2017

20 EU member states have agreed to establish an anti VAT fraud Public Prosecutor’s Office, focusing on the trading block’s estimated €50bn VAT fraud issue, and other EU budget issue. An approval vote by the European Parliament on 5 October cleared the last approval for the group’s creation. The new independent ‘parquet’ (public prosecutor department) will …


France

France VAT fraud software 2018

September 16th, 2017

France is proposing to impose the obligation for French registered companies to use certified VAT software on B2C cash and credit transactions from 1 January 2018. The will include a requirement to use licensed and secure point-of-sale  (e.g. cash registers). Any infringement of the obligations could result in a fine of up to €7,000 per infringement. …


Europe

EU proposes e-commerce platforms liable for VAT fraud

September 13th, 2017

The EU is progressing with proposals to impose liabilities on online marketplaces for VAT fraud committed by non-EU merchants on their e-commerce platforms.  The move will attempt to tackle over €5bn in non/under declared VAT by fraudsters, many originating from China.  The UK introduced the same measure in 2016 to tackle its own estimated £1.5bn fraud …


Europe

EU legal blow to reverse charge fraud measures

May 30th, 2017

Lawyers to the European Council of Ministers have alegedly cast doubt on a proposal to introduce a voluntary reverse charge mechanism to combat VAT fraud.  The measures were to be introduced until 2022 to help reduce fraud estimated to cost member states up to €50billion per annum in lost VAT revenues Generalised reverse charge proposal …


Europe

EU general reverse charge update

March 10th, 2017

EU member states have continued to debate the proposed introduction of an anti-VAT fraud general reverse charge mechanism.  This would enable countries to remove the cash-element of B2B domestic transactions, and thus reduce VAT fraud. France has challenged the plan on the basis that it contravenes EU treaties.  However, the Czech Republic, which sponsored the …