A recent study conducted by Ernst & Young (EY) suggest that Slovakia contributed to the European Union's loses of tax revenues due to the value added tax evasion (VAT).
The study which was financed by the European Commission also revealed that the Slovak Republic ranked among the fifth worst of the EU-member states in terms of its failure to comply with tax obligations or not charging VAT for the period between 2000 to 2011. In 2011 for example, the country lost €2,773 billion on tax evasion, which represented 4 percent of GDP.
Lucia Pazičová
