How To Combat Value Added Tax Refund Fraud

Author : Cedric Andrew
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.28/5 ( download)

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Download or read book How to Combat Value-Added Tax Refund Fraud written by Cedric Andrew and published by International Monetary Fund. This book was released on 2023-08-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: A previous IMF Working Paper on value-added tax (VAT) refunds (WP/07/31, by Keen and Smith) describes the main forms of VAT noncompliance and concludes that VAT is susceptible to evasion and fraud like any other tax. This paper shows the insidious nature and extent of VAT refund fraud in selected EU countries and argues that this type of noncompliance requires tax administrations to adopt a coordinated strategy and deploy a range of countermeasures to combat this threat. Because such fraud is primarily a criminal legal issue, tackling it successfully will require cooperation, both internationally between VAT administrations and nationally between tax authorities and the judiciary. The paper’s focus is primarily on advanced economies in the context of the EU, but many of the recommendations are applicable to emerging market and developing countries. A separate IMF How to Note discusses managing VAT refunds in developing countries.

Author : Mario Pessoa
Publisher : International Monetary Fund
ISBN 13 : 1513577042
Total Pages : 29 pages
Book Rating : 4.43/5 ( download)

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Download or read book How to Manage Value-Added Tax Refunds written by Mario Pessoa and published by International Monetary Fund. This book was released on 2021-05-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.

Author : A. A. Aronowitz
Publisher : Kugler Publications
ISBN 13 : 9789062991365
Total Pages : 168 pages
Book Rating : 4.6X/5 ( download)

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Download or read book Value-added Tax Fraud in the European Union written by A. A. Aronowitz and published by Kugler Publications. This book was released on 1996 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research report aims at filling the knowledge gap concerning organized business crime by highlighting one specific phenomenon, that of EU cross-border VAT fraud. It intends to provide insight into: the effectiveness of the present VAT control system; the vulnerability of legitimate trade to criminal inroads; and, the development of organized crime in this area.

Author : Michael Keen
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.84/5 ( download)

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Download or read book VAT Fraud and Evasion written by Michael Keen and published by International Monetary Fund. This book was released on 2007-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like any tax, the VAT is vulnerable to evasion and fraud. But its credit and refund mechanism does offer unique opportunities for abuse, and this has recently become an urgent concern in the European Union (EU). This paper describes the main forms of noncompliance distinctive to a VAT, considers how they can be addressed, and assesses evidence on their extent in high-income countries. While the practical significance of current difficulties in the EU should not be over-stated, administrative measures alone may prove insufficient to deal with them, and a fundamental redesign of the VAT treatment of intra-community trade required. The current difficulties in the EU largely reflect circumstances that would not apply in the United States.

Author : Graham Harrison
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451862379
Total Pages : 43 pages
Book Rating : 4.77/5 ( download)

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Download or read book VAT Refunds: A Review of Country Experience written by Graham Harrison and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-11-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key feature of the invoice-credit form of value-added tax (VAT) is that some businesses- notably exporters-will pay more tax on their purchases than is due on their sales, and so can seek refunds of excess credits from government. While refunding is straightforward in principle, serious problems arise in practice, including opportunities for fraud and corruption, and denial of refunds by governments with cash shortages. This makes the refund process the "Achilles heel" of the VAT. This paper examines the refund approaches of tax administrations in 36 developing, transitional, and developed countries. It evaluates the effectiveness of these approaches and suggests a model of best practice that takes into consideration compliance issues faced by countries during different stages of development.

Author : Michael Keen
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.89/5 ( download)

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Download or read book VAT Attacks! written by Michael Keen and published by International Monetary Fund. This book was released on 2007-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like the theory of the second best that the 2006 congress marks, the VAT is now fifty years old. Judged by the extent and speed of its spread around the world, and the revenue that it raises, the VAT would seem to have been a remarkable success. Over the last few years, however, it has come under a series of attacks. This paper considers three of the most prominent of these. One is the fear (raised mainly in the United States) that the VAT actually does too good a job of raising tax revenue. The second is the view that the VAT does a bad job of taxing the informal sector-and that tariffs might be a better revenue-raising instrument for many developing countries. The third attack is the most literal, by criminals rather than theorists: in the European Union and elsewhere, sophisticated VAT fraud, targeting its refund provisions, has become a serious concern.

Author :
Publisher :
ISBN 13 : 9789287238276
Total Pages : 54 pages
Book Rating : 4.78/5 ( download)

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Download or read book Tackling Intra-community VAT Fraud written by and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Mr.Liam P. Ebrill
Publisher : International Monetary Fund
ISBN 13 : 1589060261
Total Pages : 242 pages
Book Rating : 4.65/5 ( download)

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Download or read book The Modern VAT written by Mr.Liam P. Ebrill and published by International Monetary Fund. This book was released on 2001-11-05 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-added tax, or VAT, first introduced less than 50 years ago, is now a pivotal component of tax systems around the world. The rapid and seemingly irresistible rise of the VAT is probably the most important tax development of the latter twentieth century, and certainly the most breathtaking. Written by a team of experts from the IMF, this book examines the remarkable spread and current reach of the innovative tax and draws lessons about the design and implementation of the VAT, as experienced by different countries around the world. How efficient is it as a tax, is it fair, and is it suitable for all countries? These are among the questions raised. This highly informative and well-researched book also looks at the likely future of the tax.

Author : United States. Internal Revenue Service
Publisher :
ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.03/5 ( download)

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Download or read book The Collection Process (income Tax Accounts) written by United States. Internal Revenue Service and published by . This book was released on 1978 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Michael Lang
Publisher :
ISBN 13 : 9789087222369
Total Pages : 740 pages
Book Rating : 4.6X/5 ( download)

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Download or read book Improving VAT/GST : designing a simple and fraud-proof tax system written by Michael Lang and published by . This book was released on 2014 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book will be an interesting and valuable tool for both regulators and practitioners alike to deepen their understanding of the various tax systems and the way certain issues are solved under different regimes, in order to encourage international trade and lay the groundwork for the removal of tax obstacles and related costs in global commerce."--Extracted from publisher website on March 25, 2014.