EU forecasts €24bn in lost COVID-19 VAT

Sep 11, 2020 | Richard Asquith

The latest EU VAT Gap, estimating missing Value Added Tax receipts has dropped from €140.9m to €140.0bn between 2017 and 2018. However, the EC is expecting a sharp rise in 2020, reaching up to €164bn, 14% of revenues. This is based on EU forecasts of a 7.4% shrinkage in EU economy.

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VP Global Indirect Tax

Richard Asquith

VP Global Indirect Tax Richard Asquith

Richard Asquith is the former VP Global Indirect Tax at Avalara

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