Hungary Moves Up to 4th Place in EU VAT Compliance
- 19 Dec 2024 7:57 AM
Hungary has moved up to 4th place in the European Commission's VAT compliance gap ranking, Finance Minister Mihaly Varga said on Facebook.
Hungary's VAT compliance gap, a measure of the difference between VAT receipts and tax revenue that would be collected in the case of full compliance, has fallen to 2.3pc from 22.3pc in 2010, one of the biggest improvements in Europe, Varga said in the post.
Hungary's figure compares to an EU average of 8.3pc, he added.
The government's measures to whiten the economy have cut tax avoidance by tenfold over the past 14 years while taxes have been reduced, Varga said.
Source:
MTI - The Hungarian News Agency, founded in 1881.
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