For example, some online sellers with no physical presence in an EU Member State sell goods and services to EU consumers without registering for VAT anywhere in the EU, or by declaring less than the actual value of their online sales. Member States therefore need strengthened tools to detect and shut down this unlawful behaviour.
Paolo Gentiloni, Commissioner for Economy, said: “These new rules will play a crucial role in the fight against VAT fraud, which costs EU governments billions in lost revenues every year. By harnessing the information collected by payment service providers such as banks and credit card companies, anti-fraud specialists in Member States will be able to more easily and accurately pinpoint and crack down on fraudulent behaviour in the e-commerce sector.”
Source: European Commission
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