Tax fraud and tax evasion represents a huge problem and affects each and every European citizen. The problem knows no borders and can only be solved effectively with concerted, joint effort.
Huge sums are being lost due to tax evasion and avoidance. Estimates go up to € 1 trillion.
This money is lost in a number of ways including:
Think of the new classrooms for your children, the new hospital for your grandmother, the new railway lines and roads that could be funded if all that tax money could be recovered!
Tax fraud and tax evasion limit the capacity of EU countries to raise money and implement their economic and social policies. That could mean cuts in public services and a slower economy.
Moreover, tax fraud and tax evasion are fundamentally unfair. Why should you pay more tax or sacrifice your public services because someone isn’t paying their fair share?
Lastly, European integration has brought many benefits to citizens and businesses. As a Union of 28, we have a powerful advantage and if we act together we can stop tax evaders stealing from the pockets of citizens and we can reclaim vast sums of money they are legitimately due.