VAT news tagged as "Quick response mechanism"

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 …


Europe

EC’s Quick Reaction Mechanism to tackle EU VAT fraud

July 20th, 2012

In a communication issued on 31 July from Brussels the Commission adopted a proposal for what has been termed QRM, being a Quick Reaction Mechanism, to enable Member States to tackle fraud faster. Under current European VAT legislation, speedy implementation of anti-fraud changes in VAT procedures is simply not possible. While recognising the positive direction …