Richard Cornelisse

Recognizing Tax Avoidance Schemes

In Audit Defense, Processes and Controls, Tax News, VAT planning on 04/05/2012 at 10:54 am
Video By Paul Clitheroe

Check out this video by Paul Clitheroe a financial expert and financial commentator. Recommended as it is entertaining and educational at the same time.

Video About Recognizing Tax Avoidance Schemes

Related Topics

From Netherlands Intensifies Efforts To Combat VAT Fraud:

“Nasir Khan had a successful accessories business, a jet-set lifestyle and reputation as a pillar of the community. But all that vanished in December when he was jailed for his part in a £250m VAT fraud. Jasper Jackson discovers how a 10-year investigation by HMRC led to his downfall. By Jasper Jackson – Mobile News March, 2012

“According to a PwC report: “11 percent of VAT revenue is lost annually through fraud – principally ‘missing trader’ or ‘carousel fraud’ – which equates to in the region of €100 billion.”

From Auditors Anticipate Finding Fraud At Clients: Accounting Today:

“People are getting caught because the fraud itself becomes unmanageable or the company is suddenly not able to fulfill their financial obligations or somebody had reason to whistle. Based on Accounting Today it is not because of proper risk management and controls.”

From The Reputation Of A Tax Professional:

“The contribution of a tax professional is nowadays not only on not paying more tax than necessary and evaluating associated tax risks when implementing (rate level of tolerance on a risk scale), but should also take in consideration the impact of such planning on the reputation of the company.”

From Audit Defense: Key Considerations:

“The new trend is to have an open dialogue between revenue bodies, taxpayers and tax intermediaries.”

” (…) written ‘agreement’, by which the taxpayer undertakes principally to “actively notify the Tax Administration of any issues with a possible and significant tax risk.”

Tax Management Consultancy welcomes your opinion on any of the issues raised, so feel free to join in the discussion on LinkedIn | Twitter | Facebook.

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