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Financial Risk and Compliance Training and Certification in assoc with FCF

20210221 Pre-launch - Essentials: Value Added Tax / GST fraud including Missing Trader / Carousel Fraud

Within Europe, fraud relating to Value Added Tax, universally known as VAT, and similar taxes generates thousands of millions of euros in profits for criminal gangs each year at the expense of taxpayers in member states.

VAT is not unique to the European Union. There are a number of similar taxes around the world, often known as a ″goods and services tax,″ or GST.

However, some taxes called GST are really simple sales taxes and don’t fit the VAT model.

In this course, we are concerned with the abuse of the system by criminals. No matter what the tax is called, the abuses are the same because the features of the tax that create the opportunity for the fraud are the same in all the versions of the tax.

In this course we will go back to the basics of VAT to demonstrate exactly how the structure creates the mechanisms which are hugely beneficial to society when used properly – but absolutely open to abuse, and therefore enormous detriment to society, by criminals.

We will answer the following questions:
What is it,
how is it possible,
how is it done and
how does it relate to money laundering?

We will also look at
the ultimate solution (a non-examinable discussion document).

Course page


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