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Report from MPs urges HMRC to do more to tackle fraud.
HMRC has taken positive steps to counter online VAT fraud but there remains much to do to ensure online marketplaces and sellers meet their obligations say MPs in a new report.
The House of Commons’ Public Accounts Committee (PAC) recommended that HMRC should:
- assess the key constraints and challenges in tackling online VAT fraud and identify further measures needed to overcome them such as further legislative powers;
- consider making the new online marketplaces agreement compulsory; and
- report on progress in securing the additional forecast £1bn VAT revenue through to 2023 including progress and outcomes on investigating non-compliant overseas traders auditing the compliance of newly registered traders and their repayment of previously unpaid VAT.
It is no surprise given the increase in popularity of online sales that MPs are taking a particular interest...
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