VAT REPORT 2021: EU COUNTRIES LOST €134 BILLION IN VAT REVENUES

VAT REPORT 2021: EU COUNTRIES LOST €134 BILLION IN VAT REVENUES

This year’s report of the “Study and Reports on the VAT Gap in the EU-28 Member States” revealed that in 2019 there was a loss of €134 billion in Value-Added Tax (VAT) revenues across EU countries. Though still extremely high, the ‘VAT Gap’ – the difference between expected revenues and the revenues actually collected –…

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Portugal lost 481 million euro in VAT collection in 2017

Portugal lost 481 million euro in VAT collection in 2017

Portugal entered 481 million euro less than it owed in the 2017 VAT collection. For the first time in years, the value appears below the barrier of 500 million euros. The loss, of 2.8%, is the lowest value of the last years, according to the report provided by the National Statistic Institute of Portugal (INE)…

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VAT Report 2018: EU is losing billions in VAT revenues

VAT Report 2018: EU is losing billions in VAT revenues

The 2018 Report of the “Study and Reports on the VAT GAP in the EU-28 Member States” revealed that in 2016 there was a loss of 12.3% of the expected VAT revenue across the EU. This Report contains updated estimates for 2012-2016 and is a conclusion of the five reports previously published by the European…

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Portugal Introduces SAF-T V.1.04

Portugal Introduces SAF-T V.1.04

A new version of the Portuguese SAF-T is in place since July 1st, 2017. This version is the fourth iteration of the file, since it was first introduced in the country, in 2007. It was approved by the Ordinance No. 302/2016, issued on December 2nd. The new Portuguese SAF-T version introduces two changes that affect…

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a new way to process saf-t files

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