Brussels, 23/10/2014 (Agence Europe) - The sum of €177 billion in revenue from value-added tax (VAT) was lost in 2012, as a result either of non-compliance or of non-recovery, the latest study on the VAT Gap, which was published by the European Commission on Thursday 23 October, reveals.
This figure, which represents the difference between the amount of VAT due and the amount collected, equates to 16% of all VAT revenue expected for 26 countries of the EU (as Cyprus and Croatia were not...