Tax fraud costs the European Union billions annually

Tax fraud costs the European Union billions annually
Tax fraud costs the European Union billions annually

In a report, the executive body of the European Union warned that EU countries are losing billions due to tax fraud and inadequate tax collection systems. compared to 2019.

The report indicated that last year, national authorities in the European Union reported 1,056 fraudulent violations.

Although these figures confirm the steady decline of the past five years, the EU Commission is calling on member states to adopt national anti-fraud strategies, establish effective control systems to mitigate new risks related to the EU budget and manage recovery funds.

The report added that “the EU’s unprecedented response to the pandemic is providing more than two trillion euros to help member states recover from the impact of the Covid-19 virus. Working together at the level of the EU and member states to keep these funds safe from fraud, has never been more important.” “.

In 2020, the most fraudulent or non-fraudulent cases affecting EU revenue were associated with the undervaluation, improper classification or smuggling of goods, particularly footwear, textiles, vehicles, machinery and electrical equipment.

However, customs fraud has affected member states differently during the COVID-19 pandemic. While the detection rates in Belgium, Bulgaria, Germany, Croatia, Hungary, Poland, Slovenia and Sweden were the highest in 2020, compared to the previous five years, the detection rates in Italy, the Netherlands, Austria, Portugal and Slovakia were the lowest.

 
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