Crisis: Greece lost some 40 bln euros in uncollected VAT

20 September, 14:54

    (ANSAmed) - ATHENS, SEPTEMBER 20 - Greece lost some 40 billion euros in uncollected Value-Added Tax in the period from 2008-2011, Kathimerini online reports quoting data from a survey published Friday by the European Commission aimed at estimating the so-called VAT Gap, defined as the difference between the expected VAT receipts if all the VAT which is due is collected and the actual VAT collected by European Union member states.

    Greece had the second-worst performance behind Romania in the list of countries that have seen their VAT Gap grow since the start of the crisis, the EC report said, showing data that suggests Greece lost revenues of 9.7 billion euros in 2011 in uncollected indirect taxes and a similar amount in the three previous years as well. The data compiled for the report show that up to 2008, there had been a moderate declining trend in the level of the VAT Gap, particularly in a number of post-accession countries. (ANSAmed).

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