Conservative MPs have repeated their demand for the European Commission to appoint a commissioner to fight fraud in the European Union after a Lords report claimed that fraud is far higher than the Commission has acknowledged.
The report from the House of Lords’ EU committee said that fraud may cost the European Union €5bn or more a year - far higher than the €404m figure for fraud given by the European Commission.
The EU’s anti fraud system has a “number of weaknesses” and its estimate of fraud “offers only a glimpse of the levels of fraud perpetrated against the EU’s budget,” the Lords report said. Types of fraud include the fraudulent use of EU funding by a member state and VAT scams such as "carousel" fraud, the report said.
One Conservative MEP, Marta Andreasen, told AccountingWEB...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.