AdSlot1

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
by HMRC

France delays Brown’s VAT
fraud move

Related reading

/IMG/427/118427/andrew-tyrie-mp
/IMG/066/324066/merger-jigsaw
RSM
/IMG/567/118567/hmrc-spending-review-cuts