Bulgaria Ranks 3rd in EU in Tax Evasion - Italian Poll

Politics » BULGARIA IN EU | August 1, 2011, Monday // 15:12
Bulgaria Ranks 3rd in EU in Tax Evasion - Italian Poll: Bulgaria Ranks 3rd in EU in Tax Evasion - Italian Poll Italy is losing about EUR 3 B a year over tax evasion from illegal internet sites selling goods and services. File photo

Italy is first in tax evasion in the European Union, followed by Romania and Bulgaria, according to information from the Association of Italian Taxpayers.

The news was reported by the Bulgarian news Agency, BTA.

In Italy, over 51% of the taxable amounts remain undeclared which ranks the country 1st in the EU in tax evasion; Romania is second with 42% while Bulgaria is third with 38%. Estonia and Slovakia are also in the first five with 37% and 32% respectively.

In comparison, in Sweden, which is first in declared taxes, only 8% of the taxable amounts are undeclared. Belgium is second with 10% of undeclared income and profits, while the UK is third with 12%.

The study is based on data from the white collar crime police in the EU Member States.

The record holders in tax evasion in Italy are companies for the design and maintenance of internet sites selling goods and services online. 2 225 million such sites are registered there, but only 800 000 are legally invoiced, meaning 2 out of 3 sites have no owners and simply appeared out of nowhere.

Since each of these sites needs maintenance and updates, the damages inflicted to the budget amount to about EUR 3 B a year.

The Association is launching a pilot project for the fight against illegal internet sales with the issuing of special certificate "Business for Good Deed" to the merchants who abide by the law.

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Tags: Italy, tax evasion, illegal, Internet, sites selling goods and services, taxable amounts, undeclared, Bulgaria, Romania
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