Tax Evasion Costs EU Countries Billions

Although the amount of evaded tax in the EU has fallen by 12 to 16 percent since 2009, it is still very high. According to a recent study by the University of London on behalf of the Socialists and Democrats parliamentary group in the EU Parliament, EU states lost an estimated 824 billion Euros in tax money in 2015. This is far more than the amount that the public sector misses out on by corporations legally avoiding taxes (50 to 190 billion euros), according to tax expert Richard Murphy, who conducted the study.

The data shown in this infographic is the best estimate - the sum could be between 750 and 900 billion euros across the EU, Murphy said. In absolute terms, the largest share of this is evaded in in Italy, followed by Germany and France. Denmark leads with 47 percent of GDP, followed by Belgium and Austria.