Wholesale VAT reform 'only way to beat carousel fraud'
Institute for Fiscal Studies suggests a single EU VAT rate across the whole of the supply chain 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.