| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/14/1187 (23.10.14) |
| Publication Date | 23/10/2014 |
| Content Type | News |
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An estimated €177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012, according to the VAT Gap study published by the European Commission on the 23 October 2014. This equated to 16% of total expected VAT revenue of 26 Member States1. The VAT Gap study set out detailed data on the difference between the amount of VAT due and the amount actually collected in 26 Member States in 2012. It also included updated figures for the period 2009-11, to reflect a refinement of the methodology used. The main trends in the VAT Gap were also presented, along with an analysis of the impact that the economic climate and policy decisions had on VAT revenues. In 2012, the lowest VAT Gaps were recorded in the Netherlands (5% of expected revenues), Finland (5%) and Luxembourg (6%). The largest Gaps were in Romania (44% of expected VAT revenues), Slovakia (39%) and Lithuania (36%). Eleven Member States decreased their VAT Gap between 2011 and 2012, while 15 saw theirs increase. Greece showed the greatest improvement between 2011 (€9.1 billion) and 2012 (€6.6 billion), although it is still one of the Member States with a high VAT Gap (33%). |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-14-1187_en.htm |
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| Subject Categories | Taxation |
| Countries / Regions | Europe |
