The total sum that Romania’s state budget loses each year on tax evasion for VAT is estimated at EUR 16.3 billion or 12.2 percent of the country’s GDP, according to calculations made by the Fiscal Council based on data from the National Statistics Institute (INS).

The food industry is the largest tax evading sector, with some EUR 2.26 billion VAT that is not being paid to the state. Agriculture comes second, with EUR 1.5 billion and third is energy, gas and heat production and supply with VAT related evasion estimated at almost EUR 1 billion a year.

Find here the full list of sectors with the highest VAT evasion levels. Results are based on 2012 statistics, according to the Fiscal Council.

Andrei Chirileasa, andrei@romania-insider.com