Wholesale VAT reform ‘only way to beat carousel fraud’

The Institute for Fiscal Studies has
recommended a wholesale reform of VAT to solve carousel fraud.

The body said yesterday that as long as refunds on exports existed, the
opportunity for fraud would exist.

Professor Stephen Smith recommended a single VAT rate for the supply chain as
a whole across the EU, with member states able to set the rate to consumers.

Further reading:

Traders angry at VAT delays

France delays Brown’s VAT
fraud move

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