According to estimations of the Ministry of Finance, 20-25% of revenues generated from Value Added Tax (VAT) end up in grey area, while around 30,000 people work illegally. Finance minister, Darko Radunović, said revenues generated from VAT are projected at €617,3 million, i.e. we do not collect €120 million out of €150 million.
Radunović explained that this is an analysis developed by the Ministry of Finance, aiming to improve the work of the Tax Administration.
Minister Radunović also stated it’s hard to evaluate total grey zone and that they expect noticeable effects in its reduction after they improve cash registers with fiscalisation.
