Gazprom on the problem of missing trader intra community VAT fraud, and the EC's anti fraud package

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.