EU Member States’ tax revenues fell by 3.9% in nominal terms in 2020 for the first time since the 2009 financial crisis, according to the Annual Report on Taxation 2022 published by the European Commission on Tuesday 28 June. On the other hand, public expenditure jumped from 46.5% in 2019 to 53% in 2020 due to emergency measures taken to deal with the Covid-19 pandemic.
This report shows that the pandemic and Russia’s invasion of Ukraine are testing both the resilience of national...