VAT fraud

A report by Panorama on the BBC indicates that VAT fraud has reached record levels.

This is based upon statistics from HM Revenue and Customs. Well this is the price you pay for an over-regulated economy. Without excessive indirect and regressive taxation, people would see little to no reason to succumb to fraud.

Imagine if companies didn't have to pay taxes. It would be a boon! Companies could use the extra money retained to either pay employees more, or to re-invest such funds hence creating opportunities for greater profits.

If the business environment is completely free of burden and regulation, then it would benefit everyone in the long run.