The European Commission today unveiled new measures intended to make the EU's value added tax (VAT) system more fraud-proof and to close loopholes that may lead to large-scale VAT fraud. The new measures are intended to enable EU Member States to exchange more information and to boost cooperation among the national tax authorities and law enforcement authorities.
As noted in today’s EC release, tax authorities of the EU Member States already exchange some information on business and cross-border sales, but this cooperation relies heavily on the manual processing of information. Today's proposals would:
These legislative proposals will be submitted to the European Parliament for consultation and to the Council for adoption.
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