Originally posted on Tax News:
FIOD figures reveal decline in size of carousel fraud
Since 2009, the Dutch Tax and Customs Administration has been using more personnel to combat VAT fraud in cross-border transactions in the European Union (also known as intra-Community VAT fraud or carousel fraud).
Figures released by the Fiscal Information and Investigation Service (FIOD) on fraud cases dealt with indicate that there has been a decline in the size of carousel fraud: from an average of €131 million a year in the period 2003-2007 to an average of €39 million a year in 2008-2011.
The Administration’s strategy is to detect this form of fraud at an early stage, thus breaking the carousel of transactions and minimising the losses to the public purse.
The Court of Audit recommends that the current firm strategy on combating fraud be continued.
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