WebDec 17, 2024 · According to the European Commission, the EU VAT gap stood at €140 billion in 2024 and could fall below €130 billion in 2024. However, Covid-19-related containment measures have hurt Member States' economies and eroded the VAT base. As a result, the VAT gap may reach over €164 billion in 2024. WebJan 31, 2024 · The EU tracks what is called the “VAT gap” — the difference between what a country is expected to collect and what it actually collects. In 2016, Romania’s VAT gap of nearly 36 percent was the largest of the …
Addressing the VAT gap in the EU Think Tank European …
WebDec 2, 2024 · The EU-wide VAT Gap, which covers all sources of VAT non-compliance, amounted to EUR 134 billion in nominal terms and 10.3 percent expressed as a share of the VAT Total Tax Liability in 2024. VAT revenue increased by 3.8 percent whereas the VAT Total Tax Liability increased by 2.9 percent, leading to a decline in the VAT Gap in both … WebThis report provides estimates of the VAT Gap for 26 EU Member States for 2013, as well as revised estimates for the period 2009-2012. It is a follow-up to the “Study to quantify and analyse the VAT Gap in the EU-27 Member States”, published in October 2014. See the press release and the frequently asked questions (MEMO/15/5593). tic tac toy music
Preliminary estimate of the VAT gap (tax year 2024 to 2024)
WebDec 2, 2024 · The report provides yearly Value Added Tax (VAT) Gap estimates for the EU-28 covering the 2015-2024 period. We calculate the VAT Gap as the difference between the … WebAccording to late-2024 EU research, the UK’s VAT gap in 2015 was 10.88 percent (i.e., the country failed to collect 10.88 percent of the VAT it should have collected) while Italy endured a VAT gap of more than 25 percent. European Commissioner for Economic and Financial Affairs, Taxation and Customs WebJul 22, 2024 · Globally, it is estimated that the VAT gap has grown to over EUR€500 billion – which equates to around 15 to 30 percent of VAT that should be collected worldwide. As a result of the rising VAT gap, governments worldwide have put in place some new and updated rules and regulations, as well as penalties. Top 8 consequences of VAT non … the lucy life