“E-commerce is considered by all Members States to be the sector that poses the greatest threat to the tax administrations. Fraud schemes are constantly evolving and getting more complicated and therefore difficult to detect. They are also challenging to control, as it is difficult to monitor the transaction flow (money, goods and services) and to identify the players involved.” This was stated by Minister for Finance Edward Scicluna when addressing Eurofisc working group held in Malta on the 26th and 27th November held at the Excelsior Hotel.
PRESS RELEASE BY THE MINISTRY FOR FINANCE
Minister Scicluna said that Malta is most willing to participate in this joint European strategy to fight VAT fraud and evasion in the field of e-commerce which will serve as a platform for the cross-border cooperation and exchange of information.
“Small countries like Malta, with limited resources welcome proposals put forward to the Commission for the acquisition of various sophisticated IT tools and databases which will then be shared by all Member States”, concluded Minister Scicluna.
The Eurofisc two-day conference was attended by forty-four participants coming from all the twenty-eight EU Member States.
Monday 2nd December 2019