Tax revenues are expected to fall significantly in 2021 and 2022 due to Covid-19 according to the European Commission’s latest report on taxation trends in the EU published on Thursday, 24 June.
“Signs of the impact of the Covid-19 pandemic on economies are already starting to show, and it is likely to significantly affect many countries around the world,” it reads.
According to the European Commission’s latest economic forecasts (see EUROPE B12719A2), EU tax revenues are...