EU Countries Back Value-Added Tax Anti-Fraud Reforms Bill (1)

EU countries endorsed a bill that would force member states to share value-added tax data with anti-fraud agencies to help them clamp down fraud that costs the bloc up to €33 billion annually.

The bill, agreed to at the Economic and Fiscal Affairs Council meeting in Brussels on Tuesday, would give the European Public Prosecutors Office and the European Anti-Fraud Office access to VAT information, rather than depending on bilateral exchanges of information.

The new regulations are expected to be finalized following a European Parliament vote in July and will enter into force 20 days after being published in the ...