VAT scams ‘damaging Irish trade’

FINE GAEL has urged the Government to investigate claims that Ireland’s trade with other countries is being seriously affected by massive VAT scams.

The party’s finance spokesman Richard Bruton said recent figures from the Central Statistic Office (CSO) show a distortion of our trade figures and a fall in the value of exports is down to VAT scams, which could be costing the country billions of euro.

“Recent CSO figures revealed that in the first four months of this year exports and imports of electrical machinery declined by a massive €6.1 billion compared to the same period in 2002,” he said.