Romania ranks second in EU in terms of tax evasion, with 42 percent of taxable income undeclared, according to the Association of Italian Taxpayers, quoted by the Bulgarian news agency, Novinite.

In Italy, over 51 percent of the taxable amounts remain undeclared which ranks the country 1st in the EU in tax evasion, while Bulgaria ranks third with 38 percent, followed by Estonia and Slovakia with 37 percent, and 32 percent respectively.

In Sweden, which is first in declared taxes, only 8 percent of the taxable amounts are undeclared. Belgium is second with 10 percent of undeclared income and profits, while the UK is third with 12 percent.

The study is based on data from the white collar crime police in the EU Member States.

Irina Popescu, irina.popescu@romania-insider.com