UK representatives met with French envoys in a bid to resolve the dispute
before a high-profile meeting of finance ministers commenced, but a compromise
could not be reached, causing the proposal to be removed from the agenda.
France, supported by Portugal and Spain has been in opposition of a move that
would change the way VAT is charged on goods targeted by gangs.
Currently VAT is charged between each link of the chain which gives
fraudsters the opportunity to ‘reverse charge’, or claim multiple VAT refunds,
but the UK had called for VAT to be charged to the final customer at the end of
the supply chain after the purchaser had received the in-demand items, which
include computer chips, mobile phones and
France, Portugal and Spain were concerned that such a change would result in
scammers shifting their operations to other countries and products, possibly
undermining the entire sales tax system.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed