European Commission publishes new VAT gap report

Sep 14, 2020

EU countries lost an estimated €140 billion in VAT revenues in 2018 according to the Commission's latest report on the VAT gap. The VAT gap is the difference between expected revenues in EU Member States and the revenues collected. The report notes that although the VAT gap has “improved marginally” in past years, figures for 2020 forecast a reversal of this trend with a potential loss of €164 billion in 2020 due to the effects of the COVID-19 pandemic. For more information read the report.