The European Commission is planning to present an action plan on countering value added tax (VAT) fraud in March 2016 according to a statement by Commission vice-president Valdis Dombrovskis following a 15 January 2016 ECOFIN meeting. The plan will set out ways to tackle VAT fraud, especially on cross-border transactions involving carousel fraud where VAT refunds are claimed on supplies not actually made. The Commission will also look at the option of the reverse charge mechanism and other op…