Analysing World Bank Data for 2020, the report says that on average it takes a business nine hours to comply with the VAT refund process. The data shows that it takes 17 weeks to obtain a VAT refund.
According to the data, Italy and Romania are the EU Member States in which complying with a VAT refund takes the longest (approximately 42 and 22 hours, respectively).
Moreover, “Italy, Cyprus and Greece record the highest number of weeks to obtain a VAT refund (around 62, 43 and 31 weeks respectively).”
Aimed at finding ‘fair and simpler taxation’, the report investigates regulatory changes to make VAT compliance easier and more cost effective.