HMRC bites into MTIC fraud
HMRC reduces the scale of MTIC fraud, according to new figures
HM Revenue & Customs is fighting back in its battle to keep down the
value of missing trader intra-community fraud, according to new figures.
In new trade figures, the Office for National Statistics revealed that there
was a reduction in trade of goods normally associated with MTIC fraud, such as
computer chips, from £4.5bn in June to £1.6bn in July.
HMRC pointed to a combination of legislation, litigation and operational
activity as the main reasons for the reduction, according to the Financial