European Council Agrees on Draft Regulation for Administrative Cooperation to Prevent VAT Fraud

On 22 June 2018, the Economic and Financial Affairs Council of the European Union agreed on a draft regulation to strengthen administrative cooperation in order to improve the prevention of VAT fraud. As noted in a release on the agreement, the regulation sets out to:

• Improve the exchange and analysis of information shared by the member states' tax administrations and with law enforcement bodies;
• Strengthen Eurofisc, a network of national tax officials for the exchange of information on VA…