European Authorities Get New Tool To Stop VAT Fraud
Law360 (May 15, 2019, 8:43 PM EDT) -- European authorities have a new tool to fight fraud in value-added tax that could provide faster access to transaction information, the European Commission said Wednesday.
The commission, which serves as the European Union's executive arm, said the EU states could now use a new system to exchange and process VAT data, which the commission said could help lead to faster detection of potential fraud.
The tool, called Transaction Network Analysis, “will allow tax authorities fast and easy access to cross-border transaction information, leading to quick action when potential VAT fraud is flagged,” said a press release.
Transaction Network Analysis was developed through...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!