Financial Crime World

Businesses in Poland Can Now Protect Themselves Against VAT Fraud with Innovative Solution

Warsaw, Poland - A Major Breakthrough in Combatting VAT Fraud

Value Added Tax (VAT) fraud is a significant problem facing European tax systems, with many honest companies being implicated in fraudulent activities committed by suppliers or customers. To reduce this risk, businesses need smart tools that can help them protect themselves against VAT fraud.

Introducing the Tax Fraud Prevention Platform

PwC Poland has developed a cutting-edge analytics-based tool that enables companies to assess the reliability of their contracting partners and transactions. The Tax Fraud Prevention Platform uses data analytics to help businesses pinpoint transactions that should be subjected to closer scrutiny due to characteristics commonly associated with fraud.

Key Features of the Platform

  • Integrates three separate modules for fraud screening, focused on vendors, commodities/products, and transactions.
  • Enables companies to automate their due diligence, reducing the risk of VAT fraud.
  • Offers real-time capabilities and increased scalability.

Client Success Stories

The Tax Fraud Prevention Platform has been a game-changer for businesses in Poland and beyond. With around 20 clients across Central and Eastern Europe already using the platform, orders from outside the region are also starting to come in.

PwC’s Commitment to Innovation

Innovation is at the heart of everything PwC does. The company’s Global Innovation Challenge is a testament to this commitment, with over 4,300 innovators participating in the 2019 challenge and submitting 273 solutions from 119 territories.

“We’re proud to offer this innovative solution to our clients,” said Jakub Kur, Manager in Advisory Forensics at PwC Poland. “The Tax Fraud Prevention Platform is a game-changer in the fight against VAT fraud, and we’re confident that it will help businesses across Poland and beyond to reduce their risk of being implicated in fraudulent activities.”

Conclusion

The Tax Fraud Prevention Platform developed by PwC Poland is a significant breakthrough in combatting VAT fraud. With its cutting-edge analytics-based tool and innovative features, the platform offers businesses a powerful solution to protect themselves against VAT fraud. As PwC continues to innovate and deliver solutions that meet the needs of businesses in Poland and beyond, the company remains committed to reducing the risk of VAT fraud and promoting transparency in tax systems.