VAT Fraud Prevention Tools

Monitor VAT fraud

The tool “VAT Fraud Tracker” helps to monitor VAT fraud by identifying products and industries which may be exposed to risk relating to tax fraud. "FAIT" is a automated tool for business partners’ extensive verification in terms of tax, reputational and operational risks.

romanian version | english version

The EU countries’ annual losses due to VAT fraud represent the equivalent of Bulgaria’s GDP

VAT fraud is becoming increasingly common. The scale of the problem can be seen in the European Commission’s estimates according to which VAT fraud is responsible for member states’ annual revenue losses of approximately EUR 45–53 billion a year.

VAT fraudsters demonstrate high inter-industry mobility – they can steal VAT on many commodity groups at the same time. The scale and omnipresence of such fraud has made combating this phenomenon a priority for the governments of EU countries.

The tax authorities present a more decisive approach to recovering lost budget proceeds. Unfortunately, in practice the obligation to combat VAT fraud is often passed on to honest taxpayers. They can already feel the effects of being involved in fraudulent transaction chains – VAT carousels.

EUR 45–53
billion

is the amount of EU countries’ revenue losses due to VAT fraud.

Are you afraid of…

Tax liability for your counterparties’ overdue payables?

Being involved in fraudulent transactions?

Personal penal responsibility?

Unfair market competition or bankruptcy?

VAT Gap in Romania is EUR 7.6 billion

Check how you can mitigate the risk of VAT fraud with VAT Fraud Tracker.

The tool “VAT Fraud Tracker” allows you to identify products and industries which may be exposed to risk relating to VAT fraud at an early stage.

The VAT Fraud Tracker will allow you to:

  • demonstrate due diligence in the event of a dispute with the tax authorities;
  • determine the level of risk of VAT fraud to which your goods are exposed;
  • avoid participating in fraudulent transactions;
  • reduce losses relating to VAT fraud;
  • obtain a map of goods exposed to tax fraud;
  • estimate the risk of occurrence of tax fraud (the so-called VAT carousel).

Check your business partners with FAIT.

The tool “FAIT” allows you to verify and identify business partners that may be involved in VAT fraud at an early stage.

The FAIT will allow you to:

  • demonstrate due diligence in the event of a dispute with the tax authorities;
  • avoid participating in fraudulent transactions;
  • early identification of suspicious business partners;
  • reduce losses relating to VAT fraud;

 

PWC VAT Fraud Tracker

PWC VAT Fraud Tracker

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Contact us

Daniel Anghel

Tax and Legal Services Leader, Romania

Tel: +40 21 225.3794

Ana Sebov

Director, Romania

Tel: +40 723 179 127

Adela Topescu

Manager, Romania

Tel: +4 0731 796 330

Georgiana Iancu

Senior Manager, Tax Services, Romania

Tel: +40 21 225 3195

Lavinia Gheoghe

Manager, Advisory Services, Romania

Tel: + 4021 225 3612

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