Time to get the missing part back
EU takes action…
Both collecting taxes and combating tax fraud and tax evasion are the responsibility of EU countries’ national authorities. However, much of the fraud happens across borders and a single country acting on its own will not achieve a lot. The EU has long provided tools to help member countries fight fraud more effectively. It now has an Action Plan to move up a gear.
Through IT and other means, the EU allows for co-operation and exchange of information among its member countries on all sorts of taxes, particularly savings taxation and VAT. For instance, an EU system of mutual assistance enables national tax authorities to recover unpaid taxes from one EU country to another.
Many businesses are global and so is tax evasion. The EU has signed agreements with a number of neighbouring countries and participates in all international initiatives aimed at preventing tax abuse. And tax havens are increasingly targeted.