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Value Added Tax (VAT) Carousel Fraud in the European Union

Author

Listed:
  • Loukia SERGIOU

    (Department of Business Administration, P.A. College)

Abstract

Objectives: The central aim of this paper is to determine as accurately as possible the nature, extent and cost of vat carousel fraud to the public and private sectors within the European community. Prior Work: The European Union (EU) Institutions and Member states have put forward several measures to tackle this problem, although some of these have placed a disproportionate burden on business. A lot of countries have imposed distinct measures to combat VAT carousel fraud and important lessons have been emerged about their efficiency and compliance. Approach: The methodology takes a comprehensive review of prior research evaluating real evidence of VAT carousel fraud and analysing attempts by the European Union to tackle effectively VAT carousel fraud. Results: The study concludes that the possible solutions are in the field of closer cooperation and understanding among related parties as well as the application of combined restrictive measures. Implications: The study has implications to the society, managers and policy makers. The results will aid national authorities to implement and share best practice to combat VAT carousel fraud with other national governments. Value: Confronted with the drastic increase of VAT carousel fraud, the European Commission identified the urgent need of a coherent strategy to combat it. Yet, neither the literature nor the practices of tax and law enforcement have addressed the threat adequately. This study research gives approaching solutions to delineate essential procedures and principles to embark upon VAT carousel fraud.

Suggested Citation

  • Loukia SERGIOU, 2012. "Value Added Tax (VAT) Carousel Fraud in the European Union," The Journal of Accounting and Management, Danubius University of Galati, issue 2, pages 9-21, August.
    • Handle: RePEc:dug:jaccma:y:2012:i:2:p:9-21
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    File URL: http://journals.univ-danubius.ro/index.php/jam/article/view/1428/1335
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    Citations

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    Cited by:

    1. Gabriel RAITA, 2021. "A Theoretical Approach Of The Fiscal System In Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(23), pages 1-5.
    2. Thiess Buettner & Annalisa Tassi, 2023. "VAT fraud and reverse charge: empirical evidence from VAT return data," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(3), pages 849-878, June.
    3. Eliška Čejková & Hana Zídková, 2019. "The Impact of Specific Reverse Charge on Waste and Scrap on Tax Revenues in the Czech Republic," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2019(1), pages 65-83.
    4. Marwin Heinemann & Wojciech Stiller, 2023. "Digitalization and Cross-Border Tax Fraud: Evidence from E-Invoicing in Italy," CESifo Working Paper Series 10227, CESifo.

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