Romania Loses EUR 9 Billion Annually to VAT Fraud, Urges Action to Reduce Deficit

• Romania loses at least EUR 9 billion annually from VAT, mainly due to fraud.
• European Chief Prosecutor Laura Kovesi highlighted this issue in an interview.
• The European Commission report indicated a loss of EUR 8.4 billion in 2022 from uncollected VAT.
• The shortfall is due to VAT fraud, tax evasion, and miscalculations.
• Romanian authorities have not prioritized addressing VAT-related fraud.
• The issue is part of public debate amid budget deficit negotiations and government formation.
• President Nicusor Dan stated there will be no standard VAT rate increase.
• Romania needs to secure RON 30 billion to meet its budget deficit target of 7.5% of GDP.
• Romanian National Bank Director noted a 30% VAT collection failure compared to Bulgaria’s 7%.

Source: actmedia.eu

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.

---

---