European Commission: Annual Report on Taxation 2022 and Taxation Trends in Member States
On 28 June 2022, the EU Commission published its Annual Report on Taxation 2022, which according to the EU Commission highlights that EU Member States’ tax revenue has decreased for the first time since the 2009 financial crisis, while public expenditure jumped from 46.5% in 2019 to 53% in 2020 due to the COVID-19 crisis.
The report’s indicator-based analysis assesses the recent trends in EU tax systems, and identifies how tax policy, implementation or compliance could be improved. Following a deep recession in 2020, EU economies returned to a growth path in 2021 supported by national and EU level policy measures, including in the area of taxation.
The EU Commission concludes that the pandemic and Russia’s invasion of Ukraine are testing both the resilience of EU economies and the EU’s capacity to respond.
More information to be found here.