Fabian Demicoli

Tax Fraud: How VAT collection can be improved

Today the Commission adopted two reports which shed more light
on problems linked to fighting Value Added Tax (VAT) fraud within the EU, and
which identify possible remedies. The first report looks at VAT collection and
control procedures across the Member States, within the context of EU own
resources.

It concludes that Member States need to modernise their VAT
administrations in order to reduce the VAT Gap, which was around €193 billion
in 2011. Recommendations are addressed to individual Member States on where
they could make improvements in their procedures. The second report looks at
how effectively administrative cooperation and other available tools are being
used in order to combat VAT Fraud in the EU. It finds that more effort is
needed to enhance cross border cooperation, and recommends solutions such as joint
audits, administrative cooperation with third countries, more resources for
enquiries and controls and automatic exchange of information amongst all Member
States on VAT. Both reports are part of the broad Commission Action Plan to
fight against tax fraud and evasion, and can be found online on the European
Commission's Taxation and Customs Union website.

What we can do for you

INFORMATION POINT

BUSINESS SERVICES

MEMBERSHIP BENEFITS

LOCAL ISSUES & LEGISLATION

B2B NETWORKING EVENTS

LEGAL ADVICE

FUNDING ASSISTANCE

COURSES

BECOME A MEMBER

The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.

A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).