- European Commission released VAT gap statistics for 2022
- EU member states lost approximately 89 billion euros in VAT revenues in 2022
- This loss compares to 121 billion euros in 2018
- Revenue losses attributed to factors like VAT fraud, evasion, avoidance, non-fraudulent bankruptcies, and miscalculations
- Implementation of targeted policy measures such as digitalisation of tax systems has helped reduce the VAT gap
- Ongoing reforms are essential for further reduction in VAT gap and enhancing efficiency in collection and fraud prevention
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.
Latest Posts in "European Union"
- Commission calls on BELGIUM, FRANCE, and MALTA to fully implement the new EU VAT rules for the special SMEs scheme
- From matchmaker to supplier: deemed supplies and platform classification under EU VAT
- European Commission Report Highlights Uneven VAT Rate Exemptions Across EU Member States
- EU Packaging Regulation Faces Legal Challenges Over Reusability, Plastic Ban, and Deposit Requirements
- European Union Adopts Peppol PINT Billing Standard for E-Invoice Interoperability
