31 October 2017
According to the annual VAT gap study an estimated €151.5 billion in VAT revenues were lost due to non-compliance or non-collection during the year 2015, when compared with the same study from 2014, this shows a reduction in the gap of €8 billion.
The VAT gap study is funded by the European Commission as part of its work to reform the VAT system in Europe, as well as its wider campaign to clamp down on tax evasion.
Each year the study sets out detailed data on the gap between the amount of VAT due and the amount of VAT actually collected in the 28 member states. The main factors contributing to the VAT gap are said to be evasion, complicated systems of VAT and mistakes due to multiple VAT rates.
LATEST NEWS
Danish decision on OSS compliance reinforces the...
A recent Danish Tax Appeals Tribunal decision has reinforced the importance of meeting VAT reporting obligations under the EU's One Stop Shop (OSS) regime. In...
SEE MORE
LATEST NEWS
Italy extends deadline for recovering Input VAT
Under a new legislative decree issued in August, Italy introduced a positive law for businesses registered for VAT in the country. From 1 January 2027...
SEE MORE
LATEST NEWS
Portugal clarifies VAT correction procedures and...
Portugal's Tax Authority has issued new guidance on VAT invoice corrections and introduced updates to the periodic VAT return, reflecting the country's...
SEE MORE