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VAT fraud costing Europe €50bn a year

 
 
Reply Mon 10 Jul, 2006 11:32 pm
The explosion in "carousel" VAT fraud across the European Union over the past year is said to be costing governments a total amount more than they spend on the common agricultural policy each year, the Guardian can reveal.
With Britain set to lose up to £10bn in 2006 - equivalent to 3p on the basic rate of tax - European officials are warning that the problem is escalating rapidly across the EU, and other countries are likely to be experiencing losses of similar proportions. If the estimates are correct, the EU's total loss each year would be around €50bn (£35bn) - the same as total common agricultural policy spending, and five times more than expenditure on employment and social affairs.

http://i6.tinypic.com/1zmysjo.jpg


Related reports from today's Guardian:

VAT fraud costing Europe €50bn a year

Britain arms itself to stop VAT fraudsters escaping with billions
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Type: Discussion • Score: 1 • Views: 774 • Replies: 3
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Badboy
 
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Reply Thu 20 Jul, 2006 07:46 am
I see 7 men got imprisoned,5? from stoke-on Trent for a total of about 32 years.

Issaw a programme where the EU COMMISIONER KOVACS said he was going to made some recommendations of how to tackle CAROUSEL FRAUD.
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Badboy
 
  1  
Reply Wed 16 Aug, 2006 07:52 am
OME FRAUDSTER ARE USING COMPUTER SOFTWARE TO GENERATE RECEIPTS SO THEY CAN MADE MORE PROFITS!
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Badboy
 
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Reply Thu 17 Aug, 2006 07:21 am
17 people were charged with an alleged £1.9 billion VAT FRAUD IN THE STRATHCLYDE AREA
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