EU Agrees to Reverse Charge VAT EU has agreed derogation on VAT on mobile phones and computer chips, 'reverse charge' will levy tax on purchase instead of sale, aim is to undercut MITC fraud, draining hundreds of millions in false VAT claims 20.03.07 Guardian, HMRC Press Release, EU Law, EU Tax, UK Tax, VAT

Boom in MTIC Fraud Cost of missing trader fraud - carousel fraud - has reached £1.4b a year, number of reported frauds in UK up third in 2006, Midlands is now UK fraud 'hotspot', six-fold rise in region due to MTIC 03.01.07 Times, Fraud, VAT

UK Gathers Support to Tackle VAT Fraud Brown says France will support reforms to EU member-state VAT rules to help tackle missing trader fraud, change how VAT is charged locally for cross-border trade 14.12.06 Telegraph, EU Law, EU Tax, Fraud, UK Tax, VAT

Massive EU-Wide VAT Fraud Raid 300 HMRC investigators took part in raids across the EU this morning, arresting 15 people suspected of missing trader fraud (Missing Trader Intra-Community, MTIC), raids thought related to arrest of John Deuss and seizure of First Curacao International Bank (FCIB) 13.12.06 BBC, HMRC Press Release, VAT

UAE Treaty to Quash MTIC Fraud Treaury hopes treaty on sharing evidence with UAE will lead to significant reduction in carousel fraud (MTIC - missing trader intra-community), Dubai seen as important hub in trade 04.12.06 Guardian, Fraud, VAT

Dutch Tycoon at Heart of MTIC Fraud Dutch energy traders John Deuss arrested for carousel fraud, owns First Curacao International Bank (FCIB), believed to be axis of MTIC offences 16.10.06 Guardian, Banking Law, Fraud

Reverse Charge VAT 'Headache' HMRC admits new system of reverse charging VAT on imported goods prone to missing trader (MTIC) fraud will be difficult for legitimate traders, plans to implement reform by 1 December 19.09.06 BBC, EU Tax, UK Tax, VAT

Swoop on VAT Fraudsters In first combined cross-border operation,HMRC and German authorities seize 30k mobile phones in Hamburg, believed to be used in carousel or MTIC fraud, further cooperative efforts likely 04.09.06 BBC, EU Tax, VAT

Carousel Fraud Convictions Three men given long prison sentences, Clive Saunders, David Routledge and Craig Jones ran £68m MTIC fraud, five year investigation and eight month trial show complexity of crime, thefts expected to total £10b this year 20.07.06 Guardian, Criminal Justice, Fraud

Vast Extent of VAT Fraud BBC Panorama investigation reveals value of VAT fraud at over £6b every three months 14.07.06 BBC, EU Tax