Contraction of tax income losses from VAT by 3.8 factors, which is the fourth greatest efficiency among the many 27 member states of the European Union, was achieved by Greece between 2021 and 2022, in a primary indication that the measures towards tax evasion are yielding outcomes.
Based on the most recent annual report of the European Fee, printed in the present day, the so-called “VAT hole” was lowered by 250 million euros, leading to a lower to 2.96 billion euros in 2022.
Though our nation continues to lag behind the EU common, remaining in twenty third place in 2022, it has drastically improved its compliance fee since 2019. Again then, the misplaced income from the oblique tax was equal to 24% of GDP, whereas in 2022 the share is estimated to have dropped by greater than 10 factors, to 13.7%. That is even if the pandemic quickly induced a deep recession within the Greek financial system, therefore throughout that interval we didn’t have the numerous GDP development noticed in the present day.
Greece’s efficiency is anticipated to enhance additional within the subsequent common stories, for the years 2023 and 2024, due to the fast development of the financial system after the well being disaster and the set of measures towards tax evasion which have been put in place, particularly within the final two years.
Indicative examples are the connection of money registers with AADE and POS units, the myDATA system, based mostly on which VAT returns are pre-filled, and using imputed earnings for figuring out the tax of freelancers.
The Fee’s report additionally highlights the transition of many items and providers from the usual VAT fee, which is 24%, to the lowered fee of 13%, particularly to guard customers from value will increase after the outbreak of the worldwide inflation disaster in 2022.
As famous by Brussels, between 2018 and 2022, the index of VAT that may very well be collected in Greece if there have been no lowered charges or exemptions elevated from 21.5% to twenty-eight.4%, whereas solely between 2021 and 2022, the rise reached two factors. (18/12/2024)
Learn additionally:
