Romania posted the highest deficit on VAT collection in the EU in 2012. The country managed to collect only 56% of the estimated VAT, thus ranking first in the EU with a 44% deficit.

At an EU level, countries lost some EUR 177 billion because the VAT was not collected, or the VAT legislation was not respected, according to a study published yesterday. The VAT revenue loss at the EU level was, on average, of 16% of the expected revenues.

The lowest deficits were reported by the Netherlands and Finland – 5% of projected VAT revenues. Romania was followed by Slovakia – 39%, and Lithuania – 26%.

editor@romania-insider.com