TAX NEWS: Government sued over VAT repayment delays. By Dan Martin
Exporters are suing the government over the temporary halting of VAT repayments following its crackdown on carousel fraud.
According to 'The Financial Times', traders in mobile phones and computer chips, those most affected by criminal practice, are taking the action because they believe the delay is damaging legitimate businesses.
While taking steps to tackle rising levels of missing trader intra-community fraud ' also known as carousel fraud ' HMRC has uncovered a new variation of the scam which allows criminals to disguise the fraud using interlocking supply claims.
The newspaper repo