Treasury winning VAT fraud battle
The government strategy to tackle VAT fraud has saved billions of pounds for the taxpayer, Treasury minister John Healey has claimed.
He was speaking at an 11 Downing Street seminar with representatives from the mobile phone and computer chip industries.
It followed the arrest of 12 fraudsters involved in a multi-billion pound bullion and computer chip fraud.
Healey said that the Customs and Excise strategy to significantly reduce the losses from VAT missing trader fraud was on track and showed the government was right to take the lead in tackling the world wide problem of tax fraud.
He said: ‘VAT fraud is not a victimless crime.
‘It lines the pockets of criminals, forces legitimate traders out of business, and robs the honest taxpayer of more than £2bn a year.
‘But we are showing we have the right strategies, the right skills and the right people to crack the crime gangs and protect the revenue we need for our public services.’