- VAT evasion in Greece has significantly decreased due to the implementation of electronic payments and related measures starting in 2022
- The European Commission reports a 53% reduction in the VAT gap since 2017, decreasing from 29.1% to 13.7%
- In 2022, Greece collected €18.62 billion out of the expected €21.58 billion in VAT revenue, leaving a gap of €2.95 billion or 13.7%
- The VAT gap across the EU stands at 7%, showing a slight increase from the previous year
- If Greece were to match the EU average VAT gap, it could potentially save an additional €1.4 billion
- Eliminating VAT exemptions could reduce the VAT gap further but would also remove €968 million in tax breaks
- The Greek Ministry of National Economy and Finance anticipates the VAT gap will fall below 10%, aiming for around 9% soon
- By 2026, the ministry expects to generate at least €2 billion in additional revenue from these measures, potentially funding new relief efforts for households and businesses
- Greece has improved its standing in VAT collection efficiency, moving from one of the worst to one of the best in the EU alongside Germany, Hungary, and the Netherlands
Source: ekathimerini.com
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.
