08/01/2024 (Agence Europe) – New transparency rules came into force on Monday 1 January to help EU Member States combat Value Added Tax (VAT) fraud. Adopted in February 2020 by the EU Council (see EUROPE 12428/24, 12366/4), this regulation will provide national tax authorities with information on payments and thus make it easier to detect fraud, targeting e-commerce more specifically. “By harnessing the information collected by payment service providers such as banks and credit card companies, anti-fraud specialists in Member States will be able to more easily and accurately pinpoint and crack down on fraudulent behaviour in the e-commerce sector”, commented Paolo Gentiloni, Commissioner for Economy, in a press release. (AD)