EU EYES WIDER REVERSE CHARGE MECHANISM TO BUST VAT FRAUD
January 1st, 2016
The European Union (EU) could ease strict conditions allowing tax and customs authorities to use reverse charge mechanisms to collect VAT, whereby liability for payments is switched from customer to supplier, to prevent fraud. The EU Council of Ministers for finance (Ecofin) has called on the European Commission to pay due attention to such anti-fraud measures in preparing a policy paper (communication) on the future of the EU's VAT system, due for publication in March. And while EU law generally places liability for VAT on the supplier not the customer, but a ...
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