Exchange of payment data to fight VAT fraud
[ad_1] EU rules set to transform VAT fraud detection in e-commerce come into effect from 1 January 2024. From 1 January 2024, payment service providers (PSPs) offering payment services in the EU will be required to monitor the payees of cross-border payments. PSPs will be required to provide to the tax administrations in member states […]
Committee examines R&D, promoters and data proposals
[ad_1] The House of Lords Economic Affairs committee inquiry into the draft Finance Bill 2023-24 received 19 written responses and has heard from five representative bodies, including ICAEW. The Finance Bill Sub-Committee is appointed annually by the Economic Affairs Committee to consider the draft Finance Bill from a tax administration, clarification, and simplification perspective. For […]
HMRC releases latest corporate criminal offence data
[ad_1] Data provides a timely reminder that organisations of all sizes should have procedures in place to identify and mitigate tax evasion facilitation risks, says ICAEW. The corporate criminal offences (CCO) for failure to prevent the facilitation of tax evasion were introduced by Pt 3, Criminal Finances Act 2017. Offences are committed where a relevant […]