According to the annual VAT Gap report, an estimated €61 billion in VAT revenue was lost within the European Union (EU) due to non-compliance or non-collection of VAT during the year 2021. When compared with the same study from 2020, this shows a decrease of €38 billion.
The VAT gap study is funded by the European Commission as part of its work to reform the VAT system and to clamp down on tax evasion within the EU.
Source: fiscalsolutions.co.uk
Latest Posts in "European Union"
- Greek Customs Officer Arrested in €3mn China-Linked VAT Fraud Investigation by EU Prosecutor
- EU Parliament Mandates EPR Schemes for Textiles, Impacting Producers and Online Sales
- EU Deforestation Regulation Faces Another Delay Amid Technical and Political Challenges
- New Members Appointed to VAT Expert Group by Taxation and Customs Union
- IT Providers Invited to Shape EU Customs Data Hub: Market Readiness Survey Open
