Tony Walker Head of Fiscal Fraud Policy Law Enforcement HM Customs & Excise discusses the Chancellor's package of measures designed to tackle VAT fraud in particular Missing Trader Intra-Community (MTIC) VAT fraud
The three anti-fraud measures — a new joint and several liability provision an extension to the existing security provisions and an amendment to input tax legislation to counter the use of invalid invoices — aim to stop serial abuse of the VAT system by routing out those attacking the system and discouraging legitimate businesses from dealing with those that do. At the same time they aim to protect honest businesses helping them to compete fairly in the marketplace.
In this article I want to explain why these measures have been introduced...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Tony Walker Head of Fiscal Fraud Policy Law Enforcement HM Customs & Excise discusses the Chancellor's package of measures designed to tackle VAT fraud in particular Missing Trader Intra-Community (MTIC) VAT fraud
The three anti-fraud measures — a new joint and several liability provision an extension to the existing security provisions and an amendment to input tax legislation to counter the use of invalid invoices — aim to stop serial abuse of the VAT system by routing out those attacking the system and discouraging legitimate businesses from dealing with those that do. At the same time they aim to protect honest businesses helping them to compete fairly in the marketplace.
In this article I want to explain why these measures have been introduced...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
