Hungary rises to 4th in EU VAT compliance ranking, achieving major tax gap reduction
Hungary has moved up to 4th place in the European Commission’s VAT compliance gap ranking, Finance Minister Mihály Varga said on Facebook on Wednesday.
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.
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