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.
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.
Tax liability for your counterparties’ overdue payables?
Being involved in fraudulent transactions?
Personal penal responsibility?
Unfair market competition or bankruptcy?
Check how you can mitigate the risk of VAT fraud with VAT Fraud Tracker.
The VAT Fraud Tracker will allow you to:
Check your business partners with FAIT.
The FAIT will allow you to:
Tel: +40 723 179 127
Tel: +4 0731 796 330
Senior Manager, Tax Services, Romania
Tel: +40 21 225 3195
Manager, Advisory Services, Romania
Tel: + 4021 225 3612