HMRC bites into MTIC fraud

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
Times
.

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