- The UK First-Tier Tax Tribunal issued a judgment on VAT assessment related to supply chain fraud.
- The case involved a company buying and selling IT equipment in the EU.
- Transactions were arranged by the company’s consultant.
- The Tax Agency issued VAT assessments and penalties, stating the company knew or should have known about the fraud.
- The Tribunal agreed with the Tax Agency, attributing the consultant’s knowledge of fraud to the company.
- The Tribunal found the company did not take all reasonable steps to avoid participating in the fraud.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
