VAT news tagged as "Missing trader"

Ireland

Ireland extends domestic reverse charge

October 27th, 2015

In its newly released Finance Bill, Ireland has proposed extending the use of the domestic reverse charge to include the wholesale supply of gas or electricity. The measure is to help combat VAT fraud. The European Commission assessed this issue at up to €177 billion per annum in lost revenues for the EU member states. …


Czech Republic

Czech quick response mechanism for VAT fraud and new supplementary reporting

November 17th, 2014

The parliament has ratified a range of Czech VAT measures. These include: Quick response mechanism VAT The introduction of the EU’s Quick Response Mechanism for the prevention of VAT fraud in sectors susceptible to missing trader fraud. This enables member states to apply the domestic reverse charge on sales of certain goods subject to only …