GRAND THEFT EUROPE: INVESTIGATION INTO MASSIVE VAT FRAUD

The Correctiv website in Germany carries a report about a massive fraud said to be worth some €50 billion a year.  It says that iIt is Europe’s largest ongoing fraud, with organised gangs depriving the Member States of some €50 billion euros annually.  In Germany alone, VAT carousels cause annual damage of estimated €5 billion to €14 billion.  Lack of co-operation and the inability of States to agree on tax issues costing the public billions. It also says that European authorities see a great danger of carousel fraud on green electricity certificates.

https://correctiv.org/top-stories/2019/05/06/grand-theft-europe/

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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