- EU member states lost an estimated €61 billion in VAT revenues in 2021
- The VAT gap dropped by approximately €38 billion compared to 2020 figures
- Targeted policy responses, such as digitalisation of tax systems, real-time reporting of transactions, and e-invoicing, made a difference
- Temporary factors like government support measures during the COVID-19 pandemic may have played a role in reducing the VAT gap.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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