EU VAT Gap shrinks to €160billion for 2014

30 September 2016

According to the annual VAT Gap study an estimated €160 billion in VAT revenues was lost due to non-compliance or non-collection during the year 2014, when compared with the same study from 2013. This shows a reduction in the gap of €2.5 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 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

Belgium to cut e-book VAT rate from 1 January 2022

From 1 January 2022, the Belgium tax authorities have confirmed that the VAT rate on the sale of e-books, e-manuals, e-newspapers, and e-magazines sold online...

SEE MORE
LATEST NEWS

Ukraine to apply VAT on digital services from January...

From 1 January 2022, Ukraine will impose VAT at 20% on the sale of e-services to local consumers by non-resident businesses.  At present, non-resident...

SEE MORE
LATEST NEWS

Does a UK e-commerce business need an IOSS...

From 1 July 2021, the EU’s new e-commerce VAT reforms will be introduced allowing sellers to no longer pay import VAT at clearance on low-value consignments...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.