Taxation: VAT Carousel Fraud

House of Lords written question – answered on 27th March 2007.

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Photo of Lord Steinberg Lord Steinberg Conservative

asked Her Majesty's Government:

Whether the Serious Fraud Office and the police are involved in tracking down missing trader fraud and carousel fraud; and how many companies are currently under investigation.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

MTIC fraud is an attack on the taxation system and, as such, is an assigned matter to HM Revenue and Customs. However, the police have conducted investigations that touch on MTIC fraud—for example, into money laundering—and have worked with HM Revenue and Customs in support of their investigations. HM Revenue and Customs also works closely with the Serious Organised Crime Agency.

Details of the investigations and prosecutions conducted each year by HM Revenue and Customs are published in the departmental annual report and, prior to the creation of HM Revenue and Customs, were published each year in the annual reports of both the Inland Revenue and HM Customs and Excise. Copies of the annual reports are available in the Library of the House. Where the specific information requested is not published, it is not collated in that format.

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