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Newsletter 2014/19- EKAER against vat fraud
Newsletter 2014/19- EKAER against vat fraud
The legislator thereby opens a new front in the fight against VAT frauds. While the gradual introduction of online cash-registers from 2013 aimed at fighting against VAT frauds due to failing the issuance of receipts or the concealment of income, the purpose of the EKAER system is to fight the so called “carousel” VAT frauds, i.e. where the products are only shipped fictionally, but not in reality.
The EKAER system will result in a significant administrative burden, but simultaneously will support the Hungarian Tax Authority’s investigations with much information. The institution of guarantee linked to the EKAER system implies a new opportunity for the tax authority to collect outstanding tax shortages.
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