13
Sep
A staggering €159.5 billion in Value Added Tax (VAT) revenues were lost across the EU in 2014 according to figures released by the European Commission today.
Research shows that the overall difference between the expected VAT revenue and the amount actually collected (the so-called 'VAT Gap') amounted once again to an unacceptably high yearly figure. The findings support recent calls by the Commission to overhaul the EU's VAT system to tackle fraud and make it more efficient. Member States must...