- The VAT gap in Greece declined by 3.2 percentage points in 2021.
- However, it still amounts to over €3 billion in lost revenue to the state.
- Member states lost around €61 billion in VAT in 2021, compared to €99 billion in 2020.
- Greece had a loss of €3.231 billion in 2021, compared to €3.426 billion in 2020.
- Greece has the third-highest VAT gap in the EU, after Romania and Malta.
- The EU average VAT gap is 5.3%.
- The lost revenue is mainly due to VAT fraud, evasion, avoidance, bankruptcies, miscalculations, and financial insolvencies.
- Lost VAT revenues negatively impact governments’ ability to fund public goods and services like schools, hospitals, and transport.
Source: ekathimerini.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.
