2023-05-24 05:04:00
If all Belgians paid the VAT due on what they consume, the State would have 11 billion euros in additional revenue each year. And its budget deficit would immediately fall below the threshold of 3% of gross domestic product (GDP), according to a report by the International Monetary Fund (IMF) at the request of the Belgian government, reports the newspaper L’Echo. Each year, the tax authorities are thus deprived of more than a fifth of the VAT due.
In question, in general: the goods and services provided “in black”, but also the shortcomings of the administrative processing of international trade, tax optimization and the bankruptcy of companies with unpaid VAT debts, according to L’Echo.
European data shows that neighboring countries are more efficient than Belgium in collecting consumption taxes. In the government agreement, the coalition partners have set themselves the ambition of bringing the “VAT hole to the level of neighboring countries”.
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