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Europe Daily Bulletin No. 9719

7 August 2008
Contents Publication in full By article 11 / 18
GENERAL NEWS / (eu) ep/taxation
EP prepared to overhaul EU VAT system to combat tax fraud

Brussels, 06/08/2008 (Agence Europe) - Early in September 2008, the European Parliament is expected to adopt an own initiative report by British Liberal MEP Sharon Bowles on a coordinated strategy to combat tax fraud, which is estimated to cost some €200 billion a year, €50 billion of which in VAT fraud (value added tax, see Europe 9202). The report will suggest that finance ministers radically overhaul the EU VAT tax system by suggesting that they levy VAT in the Member State of origin...