VAT News

EU-VAT gap report

The EU VAT gap report outlines the estimated value of VAT collected in member states against the total expected VAT revenue for the year. The difference between these 2 values is known as the VAT gap.

The 2016 report has recently been released and reveals that the total VAT gap for the entire EU was estimated at EUR 147.1bn for the 2016 calendar year, with the largest gap being reported in Romania which stood at 35.88%. The lowest gap was in Luxembourg which was reported at 0.85%.

Of all 28 member states, the gap increased in 2016 in 6 territories, which were:

-Romania

-Finland

-UK

-Ireland

-Estonia

-France

Related articles

Five Key Changes to China's VAT in 2019

Part of a major overhaul of pre-existing VAT systems, the Chinese Government are implementing a number of significant changes to their VAT laws and processes.

Read more
Changes To International VAT Rates in 2019

A concise list of all major changes made to Value Added Tax (and Goods & Services Tax) rates around the world that have come into effect since 1st January 2019.

Read more
Bahrain’s biggest businesses prepare for their first VAT return

By the end of the month, Bahraini businesses will have to submit their first ever VAT return within the country.

Read more