EU HEARING FOCUSES ON VAT FRAUD CONTROLS
March 1st, 2007
BY DAVID HAWORTH, in Brussels, and KEITH NUTHALLEUROPEAN Union VAT fraud is still growing at such a pace, that the accuracy of member states' trade statistics remains under serious threat, a recent seminar of tax experts and accountants sponsored by the European Commission concluded.Estimates about VAT losses range from an annual Euro 60 billion to Euro 250 billion for the 27-nation bloc, the seminar heard, with the wide variation in assessments blamed on some member countries not collecting the relevant figures, such as Greece where the reporting methods do not ...
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