European member states will be able to ramp up efforts to combat VAT fraud
after the European Council incorporated new laws.
The regulations will result in the creation of ‘Eurofisc’, a network of
national tax officials that will be tasked with detecting and combating new
cases of cross-border VAT fraud,
Member states will be expected to exchange information and provide feedback
on the way that the data is shared.
All member states are expected to participate in the scheme.
The European Council said the Eurofisc network would be an “early warning
mechanism,” for international VAT fraud.
“Combating VAT fraud represents a major challenge for the EU, as every year
it costs member states billions of euros in lost revenues,” the Council stated.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...