European Parliament approves report on VAT fraud combat

On Wednesday in Strasbourg, the European Parliament plenary session approved a report concerning access to VAT-related information at the Union level. The report, aimed at countering cross-border VAT fraud, was spearheaded by Cypriot MEP Michalis Hadjipantela (EPP). The vote resulted in 549 in favor, 33 against, and 84 abstentions out of 666 total voters. The legislation mandates improved cooperation between the Eurofisc network, the European Public Prosecutor's Office (EPPO), and the European Anti-Fraud Office (OLAF). Hadjipantela argued that cross-border VAT fraud deprives European and national budgets of billions of euros that could be directed toward health, education, housing, and innovation. The proposal includes provisions for centralized access to necessary VAT information while maintaining strict compliance with personal data protection and fundamental rights. Supporters emphasized that this measure will enhance fiscal efficiency and reduce the burden on honest taxpayers.