bp madrid spain holdings - Combating tax fraud, BP Holdings

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bp madrid spain holdings



Problems regarding tax frauds continue to dwell and even worsens. Efforts are now fully focused on the issue
of prioritizing VAT fraud. The debate on VAT fraud has been divided into 2 main areas:1. Conventional
measures to reinforce existing VAT system.2. More far reaching measures to modify the system, namely:o An
option for Member States to introduce a general reverse charge system;o Taxation of Intra-Community
transactionsThe Commission created a new expert group with Member States, the "Anti Tax Fraud Strategy
(ATFS)" expert group, with a view to conduct the technical discussions on the conventional measures. The Vat
system is not enough to combat a VAT fraud within a single market. There is need to improve a greater system
in order to have a harmony and increase in cooperation between the state and the people. The commission
proposes to improve measures to strengthen the existing system.Insinuations of tax evasion and target
incompetence for income measurement are significant. Systematic misinterpretations of income source present
misleading view of income distribution and redistribution profiles.Proposals have been submitted to fight fraud.
More far reaching methods such as legislative proposals were released February 2008. In this Communication
the Commission analyses the taxation of Intra-Community transactions and the introduction of the option of a
general reverse charge system. November 2007, the commission presented a Communication with key
elements concerned the conventional measures like the need of tax administrations for accurate information,
the integration of an EU approach into the management of the VAT system and the importance of updated
information on the VAT status of persons.The programs work by providing global approach to give measures
for some action plans: to prevent potential fraudsters, an online confirmation was made available to traders for
the validity of VAT identification number of their costumers. The system give a simpler, modernize and more
harmonious structure of the current rules. Tools were enhanced for the detection of VAT frauds, Eurofisc, a
European Network that works for closer operational cooperation between Member States. Lastly, they
strengthen the possibilities for tax authorities to recover VAT losses. To prevent unintended non-taxation, tax
evasion and fraud, Members States should ensure that both parties cooperate with other to gain sufficient
resources to combat tax fraud.Tax systems should progress and should become more reliable, it should be
made more effective and efficient. The Communication should be backed by better collection and more
intensive efforts to combat tax fraud and evasion. Everyone should be working together, the Communication,
the Members of the State and more especially the people that govern and hands on with the current issues.
Tax administrations must have up-to-date, relevant and timely information in order to make solutions on the
tax frauds dilemma. Stronger community approach must be a priority, mutual assistance should be guaranteed
to the Members of the State. Potential losses should be guarded; fraudsters are always on the lookout for
potential victims. Criminal proceedings must be carried out for the scammers and fraudsters.



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Description: bp madrid spain holdings Problems regarding tax frauds continue to dwell and even worsens. Efforts are now fully focused on the issue of prioritizing VAT fraud. The debate on VAT fraud has been divided into 2 main areas:1. Conventional measures to reinforce existing VAT system.2. More far reaching measures to modify the system, namely:o An option for Member States to introduce a general reverse charge system;o Taxation of Intra-Community transactionsThe Commission created a new expert group with Member States, the "Anti Tax Fraud Strategy (ATFS)" expert group, with a view to conduct the technical discussions on the conventional measures. The Vat system is not enough to combat a VAT fraud within a single market.