01 42 54 60 64 | contact@welcomeurope.com

Program

The significant loss of VAT resources for EU countries due to Covid19

publié le 10 September 2020

According to forecasts for 2020, European Union countries are expected to experience an estimated €164 billion loss in value added tax (VAT) revenue in 2020 due to the effects of the COVID-19 pandemic on the economy.

The considerable 2018 VAT Gap, coupled with forecasts for 2020 – which will be impacted  by the coronavirus pandemic – highlights once again the need for a comprehensive reform of EU VAT rules to put an end to VAT fraud, and for increased cooperation between Member States to promote VAT collection while protecting legitimate businesses. The Commission’s recent Fair and Simple Taxation package (July 2020) also details a number of upcoming measures in this area.

Eurofunding gathers more than 300 European grant programs updated and linked to weekly alerts on calls for projects. Subscribe for free and don't miss any more opportunities.

Subscribe to Eurofunding

Similar news

2020-10-26 11:31:51

The economic situation is the main concern of EU citizens in the context of the COVID pandemic

Lire l'aticle

2020-03-13 10:02:46

12 million euro Danish scheme approved by the European Commission in response to the cancellations of large public events due to COVID-19

Lire l'aticle