GB: Impact of MTIC fraud on national accounts data (2003)

ONS/HMRC paper (13 pages, PDF) on adjustments made to trade data in the UK national accounts to account for the effects of MTIC fraud.

The figures presented in the latest UK Trade First Release and shortly to be presented in the 2003 Blue Book contain revisions to imports of goods due to the introduction of an adjustment for the impact of MTIC fraud. Such an adjustment is necessarily tentative and subject to uncertainty, but it is clear that making and publishing this adjustment improves the overall coherence of the accounts and the wider presentation of the economy in official statistics.

Filed under HMRC, ONS, Tax fraud, VAT.

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