Romania failed to collect 1/3 of VAT in 2019

World

Photo by Albert Zoltan / Shutterstock.com

In 2019, Romania recorded the highest national VAT (value-added tax) compliance gap, with 34.9% of VAT revenues going missing, followed by Greece (25.8%) and Malta (23.5%).

In absolute terms, Romania's Government failed to collect EUR 7.4 billion (over 3% of GDP) VAT owed by companies, according to a report of the European Commission, Profit.ro reported, according to Romania-insider.

Furthermore, the VAT gap in Romania increased from RON 29.1 billion (32.7% of GDP) in 2018 to RON 35.1 billion in 2019.

The smallest gaps were observed in Croatia (1%), Sweden (1.4%), and Cyprus (2.7%).

In absolute terms, the highest VAT compliance gaps were recorded in Italy (EUR 30.1 billion) and Germany (EUR 23.4 billion).

The most significant increases in the VAT gap were observed in Malta (+5.4%), Slovenia (+3%), and Romania (+2.3%). 

ADVERTISEMENT

Q4 Investment Volumes Fall 3% Figures

Q4 Investment Volumes Fall 3%

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Bourse Acknowledges 'Best of BSE'  Deals

Bourse Acknowledges 'Best of BSE' 

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.