- EU Member States made progress in VAT compliance in 2021
- The annual VAT Gap study shows that Member States lost around €61 billion in VAT in 2021, compared to €99 billion in 2020
- The lost revenues are mainly due to VAT fraud, evasion, avoidance, bankruptcies, miscalculations, and financial insolvencies
- Targeted policy responses, such as digitalization of tax systems and real-time reporting, contributed to the progress
- Government support measures during the COVID-19 pandemic may have also played a role in the positive change.
Source: blogs.pwc.de
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.
Latest Posts in "European Union"
- Evaluating EU Rules of Origin: A Call for Public Input
- Briefing Document & Podcast: VAT on Land Registration – Analysis of Amărăşti Land Investment SRL (Case C-707/18)
- Understanding VAT Rules for Dropshipping: Compliance, Registration, and Cross-Border Sales Challenges
- EU Commission Proposes New Revenue Sources for 2028-2034 Budget, Including Corporate Contributions
- EU Customs Reforms 2028: Platforms Become Deemed Importers, Assume Duties and Compliance Responsibilities
