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The EU is losing €59.5bn per year in revenues by the tax avoidance of the super-rich in tax havens such as Bermuda, pictured here (Photo: Mike Oropeza)

Tax avoidance and VAT gap on menu for future EU revenue

Measures to increase tax revenues and foster cross-border investment by tackling tax obstacles and distortions in the single market are expected to be high on the EU agenda, following a discussion between MEPs and national MPs on the future of the single market and taxation on Tuesday (13 February).

Every year, the EU loses €59.5bn in revenues by the tax avoidance of the super-rich, in tax havens such as Bermuda or the Cayman Islands,

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Author Bio

Paula joined EUobserver in January 2023 and left for Euronews in 2024. Previously she worked for the Spanish online newspaper El Confidencial, where she covered mainly economic and financial affairs.

The EU is losing €59.5bn per year in revenues by the tax avoidance of the super-rich in tax havens such as Bermuda, pictured here (Photo: Mike Oropeza)

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Author Bio

Paula joined EUobserver in January 2023 and left for Euronews in 2024. Previously she worked for the Spanish online newspaper El Confidencial, where she covered mainly economic and financial affairs.

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