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Romania reported EUR 8.8 bln in uncollected VAT in 2012

Romania recorded the highest VAT gap in the EU in 2012, which saw the country miss 44 percent of expected VAT revenues, leading to a shortfall in revenues of EUR 8.8 billion, according to a taxation study by the European Commission, the executive arm of the EU.   In fact Romania has been posting the highest VAT gap since 2009, when the crisis erupted in Europe, stated the report. In 2011, the VAT ...

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Friday, October 24, 2014