Czech finance minister to push EU VAT anti-fraud proposal

Czech Minister of Finance Andrej Babiš will try at a meeting of EU finance ministers in Brussels on Friday to push his main proposal for clamping down on VAT fraud. Babiš will seek the go ahead from fellow ministers for the Czech Republic to have the widest possible remit to use so-called reverse charge VAT, where the tax is paid by the consumer and not the seller. He believes that greater use of reverse charge could save the EU a large part of the around 170 billion euros lost every year in unpaid VAT.

Author: Chris Johnstone