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The EU is losing €59.5bn per year in revenues by the tax avoidance of the super-rich in tax havens such as Bermuda, pictured here (Photo: Mike Oropeza)

Tax avoidance and VAT gap on menu for future EU revenue

Measures to increase tax revenues and foster cross-border investment by tackling tax obstacles and distortions in the single market are expected to be high on the EU agenda, following a discussion between MEPs and national MPs on the future of the single market and taxation on Tuesday (13 February).

Every year, the EU loses €59.5bn in revenues by the tax avoidance of the super-rich, in tax havens such as Bermuda or the Cayman Islands,

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