Estonia, Financial Services, Legislation, Markets and Companies, Taxation

International Internet Magazine. Baltic States news & analytics Sunday, 05.07.2020, 09:50

Estonian state suffered 222 mln euros of VAT losses in 2012

BC, Tallinn, 28.03.2013.Print version
According to the initial data of the Estonian tax and customs board, companies caused the Estonian state 222 million euros of lost value-added tax (VAT) in 2012, LETA/Public Broadcasting reports.

The state collected nearly 1.5 billion euros of VAT last year.


In 2010, companies caused loss of 180 million euros with VAT fraud, in 2011 the amount was 231 million euros.


Tax and Customs Board deputy director general Egon Veermäe said that these figures clearly show that the amount of VAT fraud is big and doesn’t concern just a handful of companies.


"For example we know of nearly 10,000 possible damage causers a about whom there is reason to suspect VAT fraud. Considering that there are over 70,000 companies obliged to pay VAT in Estonia, we cannot speak about a few companies in the context of VAT fraud, but of a whole 12%," said Veermäe.

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