Recent measures countering MTIC fraud
Missing trader intra-Community (MTIC) fraud is said to cost revenue authorities around €60 billion annually in tax losses. In addition to EU steps to combat MTIC fraud, Finance (No.2) Act 2017 imposes fixed penalties for entities entering into a transaction connected with the fraudulent evasion of VAT who knew or ought to have known of the connection. In a recent article for Tax Journal, Anthony Eskander, a barrister in KPMG’s legal services team, takes a look at some recent steps HMRC and the EU have taken to combat the problem of MTIC fraud.
To read the article*, click here.
* First published in Tax Journal on 17 November 2017. Reproduced with permission.
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