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EU tackles fiscal fraud. A conference was held on 29 March 2007 in Brussels on the battle against VAT fraud. The conference was organized by the European Commission and offered an opportunity for European businesses to express their views on the way the tax authorities handle the increasing number of VAT fraud cases and the plans to battle this. Businesses were also invited to come up with other ideas that could contribute to the fight against fraud. VAT fraud has become a major problem in the European Union running into billions of Euros per year. Calls for changing the system to a consumer tax and relieving business of a costly administrative burden have not been successful. Instead the direction of the battle against this fraud seems to be going towards tighter controls on transactions between Member States and possibly even a system of authorized economic operator similar to the system just introduced in the customs legislation. |
