On May 15th, the European Commission has issued a press release1 regarding a new tool called TNA to fight VAT Fraud which states “The new system will allow Member States to rapidly exchange and jointly process VAT data, leading to earlier detection of suspicious networks”.

Being VAT fraud on of the main issues that Public Finances face today, eradicating this problem would be of paramount importance. TNA or the Transaction Network Analysis will increase the speed at which authorities can uncover and act on suspicious activity by giving fast and easy access to cross-border transaction information, leading to quick action when potential VAT fraud is flagged.

The TNA was developed as a joint collaboration between Member States and the European Commission and is expected to boost cooperation across the national tax offices and the EU’s network of anti-fraud experts (‘Eurofisc’).