The European Commission publish a study confirming billions lost in VAT Gap | Meridian.
According to a study that was published by the European Commission, there has been a loss of an estimated €177bn in VAT revenues lost in 2012 because of non-collection or non-compliance. This is 16% of the total expected VAT revenue of 26 Member States, i.e.: The EU without Cyprus and Croatia.
For more information on the study click here or to see the press release click here.