Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/15/5592 (04.09.15) |
Publication Date | 04/09/2015 |
Content Type | News |
According to the latest figures released by the European Commission on 4 September 2015, VAT revenue collection had failed to show significant improvement across EU Member States. Based on VAT collection figures from 2013, the overall difference between the expected VAT revenue and the amount actually collected (the so-called 'VAT Gap') did not improve on 2012. The 2015 report estimated that total amount of VAT lost across the EU was €168 billion. This equated to 15.2% of revenue loss due to fraud and evasion, tax avoidance, bankruptcies, financial insolvencies and miscalculation in 26 Member States. The VAT Gap study is funded by the Commission as part of its work to reform the VAT system in Europe and to clamp down on tax fraud and evasion. The Commission has already identified key actions and taken a number of measures to assist Member States to this effect. |
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Source Link | http://europa.eu/rapid/press-release_IP-15-5592_en.htm |
Related Links |
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Subject Categories | Taxation |
Countries / Regions | Europe |
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