VAT News

EC-VAT gap report

The European Commission has recently released the VAT gap report for 2015. This report outlines the difference between expected VAT revenue and collected VAT revenue.

In 2015, the amount of VAT not collected across the member states totaled €151.5 billion, representing an overall revenue loss of 12%. The lowest VAT gap was in Sweden with a gap of -1.4%, whilst in Romania the gap between estimated and collected VAT was 37%.

The level of the VAT gap has reduced in 21 of the 28 member states but an increase was seen in Belgium, Denmark,Ireland,Greece,Luxembourg, Finland, and the UK.

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