Slowing the carousel

Jérôme Bryssinck (020 3808 8299) is Head of Government Solutions at Quantexa.

Europol estimates that missing trader intra-community (MTIC) fraud – more commonly known as ‘VAT carousel’ fraud – costs authorities around €60 billion annually [1], writes Jérôme Bryssinck of Quantexa. A sophisticated tax scam, MTIC fraud takes advantage of the absence of VAT on trade between member states but policy measures and new technology offer new opportunities to check the losses.