Europe: EU to launch anti fraud technology

By | 4 June 2003

The EU is to introduce a new real time computerised system to fight fraud arising from the transport of alcoholic drinks and other excise goods between the 15 member countries in bond under duty-suspension arrangements.

The European Commission says the new scheme agreed by the EU Council will eliminate the present "cumbersome"  paper-based system which cannot cope with rising levels of tax fraud.

The EC says the cost of the scheme "will probably amount to no more than 5% of the revenue lost to tax evasion in a given year." Alcohol and tobacco fraud was behind an estimated €4.8 billion of lost revenues in 1996.

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