Commissioners, MEPs and EU government representatives

EU Governance and the RTvat solution

The existence of the free trade 'open borders' policy inherent in the EU's governance provides much of the opportunity for cross-border fraud, and in particular carousel fraud. A major factor in slowing the fight against fraud is the difficulty in getting all 27 national tax authorities to co-operate, and the timescales which are normally applied in obtaining cross-EU agreement on any major changes to taxation systems.

The RTvat solution provides a simple, rapid, trusted, secure, auditable and flexible technology across all member states, harmonising the disparate systems and allowing simple but secure exchange of information across national borders, without the need for individual member states to relinquish control of sensitive data or give up privacy legislation.

The release of large volumes of funds currently being lost to carousel fraud and other VAT fraud by national governments releases money to be used for individual member state projects, reducing the overall burden on the EU-wide budget.

Furthermore, the fully funded nature of the project requires no up-front costs to the EU or national governments, as all initial investment and running costs could be borne by a private consortium or a public-private partnership. The governments would benefit from the increases in taxation without having to dig into their own pockets or those of the EU Commission to fund the scheme.

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