Missing trader intra community VAT fraud (MTIC fraud) is the theft of VAT from tax authorities by organised criminals, often involving complex structures, such as carousel fraud and contra-trading. It usually revolves around products such as mobile phones and computer chips etcetera. Tim Branston, head of tax at Gazprom discusses the problem from an industry perspective.
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Belt and Road Initiative countries face tax incentive conundrums due to pillar two, but relatively few countries would seek to scrap the project, ITR has heard