- European Commission presents Annual Report on Taxation
- Report provides an overview of current taxation in the EU
- Compliance gaps are a concern with VAT revenue losses at 89 billion euros in 2022
- Corporate income tax losses were 40 billion euros in 2018
- Losses are significant amid high public deficits and debt
- EU measures include the VAT in the Digital Age initiative
- Initiative aims to modernize VAT processes through digitalization and harmonization
Source: taxation-customs.ec.europa.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.
