The VAT gap in the European Union (EU) is expected to increase to €164 billion in 2020 due to the Covid-19 pandemic. Confronted with this situation of emergency, the European Commission (EC) has placed the reduction of the VAT gap high on its agenda in order to provide Member States with additional fundings to tackle the economic crisis. The “Mind the VAT gap” initiative of the European Commission aims at promoting projects at the level of tax authorities that have proven to be effective in significantly reducing the VAT gap. Additionally it’s an excellent way for any EU citizens to voice their opinion about this enormous issue. Furthermore, the initiative will help the EC in identifying the most relevant projects to support.
Source Summitto
