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A Perfect Storm In The Eu Vat: Kittel, 'R' And Marc, Richard Thompson Ainsworth
A Perfect Storm In The Eu Vat: Kittel, 'R' And Marc, Richard Thompson Ainsworth
Faculty Scholarship
EU VAT authorities are close to turning the tables on missing traders. For many years organized fraudsters have been stealing huge amounts of VAT on the domestic re-sale of exempt cross-border supplies. Losses have been enormous whether the transactions are in goods (notably cell phones and computer chips) or in tradable services (CO2 permits and VoIP). No market has been safe from the fraudsters.
Answers are developing, but these answers may look more like Armageddon than measured enforcement. Solutions are so draconian, and so all-encompassing that very few intra-community traders will feel safe from the gathering storm. The situation is …