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American VAT - The Carousel Fraud Threat

Author : Richard Thompson Ainsworth

Publisher :

Page : 6 pages

File Size : 33,69 MB

Release : 2019

Category :

ISBN :

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Book Description

On Thursday, March 29, 2007 the European Commission, Directorate-General for Taxation and Customs Union, will host a one-day Conference on Fiscal Fraud - Tackling VAT Fraud: Possible Ways Forward. The conference is based on the Communication of May 31, 2006 explaining the need to develop a coordinated strategy to improve the fight against fiscal fraud. This paper indicates that the EU examination of carousel fraud points the way forward for advocates of a US VAT as well. About 40% of EU VAT fraud appears to be 'missing trader intra-community' (MTIC) or carousel fraud. The best estimates of EU losses to carousel fraud are put at 23 billion euros annually. UK studies put domestic losses from carousel fraud at 2.98 to 4.47 billion euros.Fraud concerns understandably resonate deeply among American advocates of a federal level VAT in the US. It needs to be taken into consideration that inserting a national credit-invoice VAT into the US fiscal fabric would be to set out the welcome mat for an American carousel fraud, as well as the more traditional VAT frauds. The vulnerability of a US VAT to carousel fraud is a direct result of the American tendency for national, state and local tax systems to 'piggy backing' on one another is taken into account.



Tackling VAT Fraud

Author : Richard Thompson Ainsworth

Publisher :

Page : 0 pages

File Size : 44,81 MB

Release : 2019

Category :

ISBN :

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Book Description

In a May 31, 2006 Communication to the Council, the European Parliament, and the European Economic and Social Committee, the European Commission indicated a need to develop a coordinated strategy to improve the fight against fiscal fraud [COM (2006) 254 final]. Although the Communication considers fiscal fraud broadly (VAT, excise duties and direct taxes) the most pressing need seems to be for a VAT strategy that will effectively deal with carousel fraud. This paper considers thirteen proposals that deal with missing trader intra-community fraud (MTIC): (1) Common VAT (origin system) (2) Vanistendael's foreign tax offices proposal (3) CVAT (Compensating VAT) (4) VIVAT (Variable Integrated VAT) (5) Dual VAT - HST version (6) Dual VAT - QST version (7) PVAT (Prepaid VAT) (8) Mittler Model (9) Reverse charge model - with input tax settlement (10) Reverse charge model - with joint and several liability (11) Pay first model - non-cash payment (trust account) (12) Pay first model - cash payment (tax stamp system) (13) Digital VAT - D-VAT.



Value-added Tax Fraud in the European Union

Author : A. A. Aronowitz

Publisher : Kugler Publications

Page : 168 pages

File Size : 13,13 MB

Release : 1996

Category : Fraud

ISBN : 9789062991365

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Book Description

This research report aims at filling the knowledge gap concerning organized business crime by highlighting one specific phenomenon, that of EU cross-border VAT fraud. It intends to provide insight into: the effectiveness of the present VAT control system; the vulnerability of legitimate trade to criminal inroads; and, the development of organized crime in this area.



Tackling Vat Fraud,Hm Customs and Excise

Author : Great Britain. National Audit Office

Publisher :

Page : 42 pages

File Size : 22,55 MB

Release : 2004

Category : Fraud

ISBN : 9780102927375

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Book Description

Value Added Tax (VAT) is a self assessed tax on the supply of goods and services, collected by 1.7 million registered traders and paid over to Customs.Traders may not pay the correct amount of VAT for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03, including substantial nonfraud losses. The Government has set Customs a target to stop the long-term growth in the size of the overall VAT gap, and to cut it from 15.7 per cent in 2002-03 to 12 per cent of the total amount that could be theoretically collected from VAT by 2005-06. This NAO report examines Customs' approach to detecting, investigating and preventing VAT fraud; tackling the most serious type of VAT fraud known as VAT missing trader intra-Community fraud; and tracking those traders operating in the shadow economy who fail to register to pay VAT.







Tackling VAT Fraud in Europe : the International Puzzle Continues ...

Author : E.C.J.M. van der Hel-van Dijk

Publisher :

Page : pages

File Size : 39,39 MB

Release : 2016

Category :

ISBN :

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Book Description

The G20, the OECD and the EU have taken several initiatives to improve transparency and exchange of information to combat tax avoidance and tax evasion, including VAT fraud. A coordinated international approach seems to be the only solution to effectively fight VAT fraud within the EU. An analysis of the developments in international cooperation, however, shows that Member States (MS) seem to underuse other means of international cooperation that exist besides the exchange of information. The exchange of information in its turn seems to be mainly used within the national context. The authors conclude that due to a lack of coherence in the 'control' systems of MS and due to the fact that 'coordination' does not always mean 'collaboration', MS still seem to address this 'European' problem mainly on a national level which does not lead to a substantial decrease of the level of VAT fraud (including a lower tax gap) within the EU.



Tackling VAT Fraud

Author : Great Britain. Parliament. House of Commons. Committee of Public Accounts

Publisher : The Stationery Office

Page : 44 pages

File Size : 42,95 MB

Release : 2004

Category : Business & Economics

ISBN : 9780215018847

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Book Description

Traders may not pay the correct amount of Value Added Tax (VAT) for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03. Following on from the NAO's report (HCP 357, session 2003-04; ISBN 0102927375), the Committee's report examines the scale of losses; ways of preventing and detecting fraud and other non-compliance; and methods of investigating and dealing with fraudsters. Findings include: there is scope for greater data sharing with the Inland Revenue to detect traders who are evading VAT by operating in the shadow economy (likely to be improved with the creation of the new revenue department); data sharing with other member states is particularly important in tackling missing trader fraud; more investigations and prosecutions for all types of VAT fraud would be cost effective; and Customs should make greater use of sanctions against under-declarations by accountants, lawyers and tax advisers, whilst working with the business community and professional bodies concerned to agree criteria for reporting and the remedial action expected.