25% Of VAT May Be Lost To Fraud In Hungary
- 5 Feb 2015 8:00 AM
Some 16% of VAT is lost in EU member states, but the figure could be 25% in some East European countries, including Hungary, Together-Dialogue MEP Benedek Jávor said Wednesday at a European Parliament conference on VAT fraud.
Former tax official András Horváth said VAT fraud costs the Hungarian government about Ft 1 trillion annually.
The tax authority only scratches the surface in its inquiries instead of attempting to uncover the complex system of fraud, he added.
Source: Hungary Around the Clock
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