VAT News

2014 VAT gap figures

The VAT gap is the difference between the expected VAT revenue of a member state, and the amount of revenue that it actually receives. These figures are quantified on an annual basis and released in a report by the European commission.

Throughout the EU member states, the level of the VAT gap varies considerably, with the 2014 figures showing Sweden with a gap of just 1.24%, compared with a gap of 37.89%.

Such figures add support to the commissions plans to tackle VAT fraud, and press on with the action plan previously outlined.

Full details of the VAT gap report can be found on the EC website below.

https://ec.europa.eu/taxation_customs/business/tax-cooperation-control/vat-gap_en

Related articles

Italian Government are Preparing for a No-Deal Brexit

Italian authorities have announced their plans ahead of the UK's possible no-deal Brexit departure.

Read more
Introduction of a U.S Consumption Tax Would Raise $3 Trillion

U.S. Consumption Tax of 5% could raise $3 trillion by 2028 says Congressional Budget Office.

Read more
EU Exit - Update from HMRC

HMRC outline important changes to customs procedures and VAT for UK-EU trade that will occur if the UK leaves the EU without a deal.

Read more