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Tuesday, 6 September 2016

Greece: The Rate of VAT (FPA) Loss to the Economy

The VAT Gap

From Kathimerini - Κομισιόν - Ελλάδα: Απώλεια 5-6 δισ. από τον ΦΠΑ ετησίως

The Greek economy is losing billions of Euros in VAT revenue each year. EC research reveals the overall difference between the expected and actual revenue from VAT (the "VAT gap") in EU Member States.

EC Reports

Study to quantify and analyse the VAT Gap inthe EU Member States (pdf) 

More information on the research

"The VAT Gap is an indicator of the effectiveness of VAT enforcement and compliance measures, as it provides an estimate of revenue loss due to fraud and evasion, tax avoidance, bankruptcies, financial insolvencies as well as miscalculations...As discussed in previous reports, the VAT Gap is defined as the difference between the amount of VAT actually collected and the VAT Total Tax Liability (VTTL), in absolute or percentage terms. The VTTL is an estimated amount of VAT that is theoretically collectable based on the VAT legislation and ancillary regulations. This report calculates, for each country the VTTL on the basis of national accounts, by mapping information on standard, reduced rates and exemptions onto data available on final and intermediate consumption, as well as gross fixed capital formation, from national accounts and use tables. Thus, the quality of the VAT Gap estimates depends on the accuracy and completeness of national accounts data and use tables".

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Original text

Η ελληνική οικονομ

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