VAT fraud costs the EU and the national budgets several billion euros every year. Thus, avoiding fraud has become the most important issue for the EU and the member states. Ronny Langer and Thomas Küffner of Küffner Maunz Langer Zugmaier look at the measures that have been introduced to address the problem and how they are affecting honest businesses.
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Ireland’s Department of Finance reported increased income tax, VAT and corporation tax receipts from 2024; in other news, it’s understood that HSBC has agreed to pay the French treasury to settle a tax investigation
The EU has seemingly capitulated to the US’s ‘side-by-side’ demands. This may be a win for the US, but the uncertainty has only just begun for pillar two