Tuesday

17th Jul 2018

Ticker

VAT fraud cost EU states €193bn

A fresh European Commission study has estimated that EU countries lost €193bn due to VAT evasion in 2011. It said Italy lost €36bn, France lost €32bn, Germany €27bn, the UK €19bn and Spain €15bn. Romania, Latvia, Greece and Lithuania lost the most in terms of the ratio to GDP, however.

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