EU TNA anti-VAT fraud tool goes live
- May 15, 2019 | Richard Asquith
All EU member states will start today to share live VAT cross-border data on the Transaction Network Analysis (TNA) tool. The aim is to rapidly identify and tackle VAT fraud.
It is being adopted by the states' 'Eurofisc' group, made up of anti-VAT fraud experts.
TNA was developed in Belgium, and has been operating in 10 EU states. It seeks to identify cross-border ‘carousel fraud’, which is estimated to cost EU member states around €50billion per annum in lost VAT revenues. TNA is based on automated data mining of data provided by companies in their VAT returns. It includes building connectors between member states’ tax IT platforms to share transaction data and reporting in near real time. It monitors deviations in purchases and sales between vendors and purchasers, and other discrepancies between disclosures in the return.