TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

European Commission publishes new VAT gap report

EU countries lost an estimated €140 billion in VAT revenues in 2018 according to its latest Commission’s 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.