01830cas a2200253 a 4500 AALejournalIMF009202 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451865950 1018-5941 BD-DhAAL BD-DhAAL Smith, Stephen. VAT Fraud and Evasion : What Do We Know, and What Can be Done? / Stephen Smith, Michael Keen. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Like any tax, the VAT is vulnerable to evasion and fraud. But its credit and refund mechanism does offer unique opportunities for abuse, and this has recently become an urgent concern in the European Union (EU). This paper describes the main forms of noncompliance distinctive to a VAT, considers how they can be addressed, and assesses evidence on their extent in high-income countries. While the practical significance of current difficulties in the EU should not be over-stated, administrative measures alone may prove insufficient to deal with them, and a fundamental redesign of the VAT treatment of intra-community trade required. The current difficulties in the EU largely reflect circumstances that would not apply in the United States. Mode of access: Internet Keen, Michael. IMF Working Papers; Working Paper ; No. 2007/031 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/031/001.2007.issue-031-en.xml IMF e-Library