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Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215018847
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
Traders may not pay the correct amount of Value Added Tax (VAT) for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03. Following on from the NAO's report (HCP 357, session 2003-04; ISBN 0102927375), the Committee's report examines the scale of losses; ways of preventing and detecting fraud and other non-compliance; and methods of investigating and dealing with fraudsters. Findings include: there is scope for greater data sharing with the Inland Revenue to detect traders who are evading VAT by operating in the shadow economy (likely to be improved with the creation of the new revenue department); data sharing with other member states is particularly important in tackling missing trader fraud; more investigations and prosecutions for all types of VAT fraud would be cost effective; and Customs should make greater use of sanctions against under-declarations by accountants, lawyers and tax advisers, whilst working with the business community and professional bodies concerned to agree criteria for reporting and the remedial action expected.
Author: Great Britain. Parliament. House of Commons. Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215018847
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
Traders may not pay the correct amount of Value Added Tax (VAT) for a number of reasons including error, deliberately understating their VAT liabilities or through systematic attacks on the VAT system, with an estimated £11.9 billion lost in VAT in 2002-03. Following on from the NAO's report (HCP 357, session 2003-04; ISBN 0102927375), the Committee's report examines the scale of losses; ways of preventing and detecting fraud and other non-compliance; and methods of investigating and dealing with fraudsters. Findings include: there is scope for greater data sharing with the Inland Revenue to detect traders who are evading VAT by operating in the shadow economy (likely to be improved with the creation of the new revenue department); data sharing with other member states is particularly important in tackling missing trader fraud; more investigations and prosecutions for all types of VAT fraud would be cost effective; and Customs should make greater use of sanctions against under-declarations by accountants, lawyers and tax advisers, whilst working with the business community and professional bodies concerned to agree criteria for reporting and the remedial action expected.
Author: Great Britain. National Audit Office
Publisher:
ISBN:
Category : Medical
Languages : en
Pages : 76
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Book Description
The NAO will produce three studies on cancer services in England. This is the first and looks at whether survival rates are being improved. One person in three will develop cancer at some point in their life, and in the 1990s England suffered from a higher mortality rate than other European countries. However the survival rate is improving and the latest figures show that 36 per cent of men and 49 per cent of women will survive for 5 years or more. England's position in terms of the proportion of people who die from cancer is improving relative to other comparable countries. There is though a class divide, with the better off improving more than the less well off. There are variations in service but one of the factors is that people in more deprived areas are likely to have their cancer identified at a more advanced stage. The recommendations from this report cover the need to be more effective in stopping smoking, ways of identifying cancer earlier and the need for national clinical audits.
Author:
Publisher:
ISBN:
Category : Taxation
Languages : en
Pages : 608
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Book Description
Author: Michael Keen
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
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:
Publisher: World Bank Publications
ISBN: 082137902X
Category : Law
Languages : en
Pages : 284
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Book Description
This book is a first-of-its-kind, practice-based guide of 36 key concepts?legal, operational, and practical--that countries can use to develop non-conviction based (NCB) forfeiture legislation that will be effective in combating the development problem of corruption and recovering stolen assets.
Author: Great Britain: Parliament: House of Lords: European Union Committee
Publisher: The Stationery Office
ISBN: 9780104010686
Category : Law
Languages : en
Pages : 182
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Book Description
Missing Trader Intra-Community Fraud (also known as carousel fraud), where goods are repeatedly exported and imported with the EU, has caused a considerable loss of revenue In 2005/6 it is estimated the UK lost between £3-4.5 billion. This report looks both at some of the measure that have been taken to recoup some of this money and measures to stop fraud occurring. In addition it considers whether the Government's policies have imposed an unreasonable burden upon legitimate businesses within affected sectors. It concludes that not only are existing measures unsustainable, steps need to be taken to ensure innocent traders are not damaged. The government needs to work with Member States to implement a system of taxation of intra-Community transactions that will be less vulnerable to major fraud.
Author: Emile van der Does de Willebois
Publisher: World Bank Publications
ISBN: 0821388967
Category : Law
Languages : en
Pages : 230
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Book Description
This report examines the use of these entities in nearly all cases of corruption. It builds upon case law, interviews with investigators, corporate registries and financial institutions and a 'mystery shopping' exercise to provide evidence of this criminal practice.
Author: Mr.Michael Keen
Publisher: International Monetary Fund
ISBN: 1484307518
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
This paper sets out some tools for understanding the performance of the value added tax (VAT). Applying a decomposition of VAT revenues (as a share of GDP) to the universe of VATs over the last twenty years, it emerges that developments have been driven much less by changes in standard rates than by changes in ‘C-efficiency’ (an indicator of the departure of the VAT from a perfectly enforced tax levied at a uniform rate on all consumption). Decomposing C-efficiency into a ‘policy gap’ (in turn divided into effects of rate differentiation and exemption) and a ‘compliance’ gap (reflecting imperfect implementation), results pieced together for EU members suggest that the former are in almost all cases far larger than the latter, with rate differentiation and exemptions playing roles that differ quite widely across countries.
Author: David Enrich
Publisher: HarperCollins
ISBN: 0062878824
Category : Business & Economics
Languages : en
Pages : 477
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Book Description
#1 WALL STREET JOURNAL BESTSELLER * NEW YORK TIMES BESTSELLER New York Times finance editor David Enrich's explosive exposé of the most scandalous bank in the world, revealing its shadowy ties to Donald Trump, Putin's Russia, and Nazi Germany “A jaw-dropping financial thriller” —Philadelphia Inquirer On a rainy Sunday in 2014, a senior executive at Deutsche Bank was found hanging in his London apartment. Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank’s efforts to deter investigation. Broeksmit, it turned out, was a man who knew too much. In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of devastation. Tracing the bank’s history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law. Soon, the bank was manipulating markets, violating international sanctions to aid terrorist regimes, scamming investors, defrauding regulators, and laundering money for Russian oligarchs. Ever desperate for an American foothold, Deutsche also started doing business with a self-promoting real estate magnate nearly every other bank in the world deemed too dangerous to touch: Donald Trump. Over the next twenty years, Deutsche executives loaned billions to Trump, the Kushner family, and an array of scandal-tarred clients, including convicted sex offender Jeffrey Epstein. Dark Towers is the never-before-told saga of how Deutsche Bank became the global face of financial recklessness and criminality—the corporate equivalent of a weapon of mass destruction. It is also the story of a man who was consumed by fear of what he’d seen at the bank—and his son’s obsessive search for the secrets he kept.
Author: Donald S. Bernstein
Publisher:
ISBN: 9780983646990
Category : Debts, Public
Languages : en
Pages : 316
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Book Description
