Commission report: Greece lost nearly 5 bln € in VAT remittances in 2014

A European Commission report on Tuesday estimates that lost VAT remittances in Greece for 2014 at 4.92 billion euros, whereas in 2013 the loss was even greater, 6.34 billion euros.

Throughout the Union, the Commission estimates that nearly 160 billion euros was lost from failure to fully collect VAT remittances.

The Commission’s study says the Greek state should have collected around 17.6 euros in 2014 from value added taxes, instead it collected 12.7 billion euros, or a 28-percent loss.