A European Commission study has pegged Portugal in 7th place in a table of countries that most effectively deal with tax fraud – particularly IVA (VAT) dodging. According to the study, Portugalâs ranking sits alongside that of France and suggests the country loses only 9% of receipts. This is significantly better than Germany, which loses 11.2%, Denmark (-9.3%), Spain (-16.5%) and Italy (-33.6%).
Portugalâs success is due to the âreinforcement of measures to combat fraud and tax evasion that have been implemented since 2012â, reports the Finance Ministry – stressing that one of the star tools has been the e-fatura system.
And predictions are for Portugalâs fraud-busting to continue to improve. A statement from the ministry pointed to new data that âshows a very significant increase in global receipts in 2014-2015, particularly when it comes to IVAâ.
natasha.donn@algarveresident.com
