- EU Member States made progress in VAT compliance in 2021
- The annual VAT Gap study shows that Member States lost around €61 billion in VAT in 2021, compared to €99 billion in 2020
- The lost revenues are mainly due to VAT fraud, evasion, avoidance, bankruptcies, miscalculations, and financial insolvencies
- Targeted policy responses, such as digitalization of tax systems and real-time reporting, contributed to the progress
- Government support measures during the COVID-19 pandemic may have also played a role in the positive change.
Source: blogs.pwc.de
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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