Inspections of companies and individuals overseen by the Large Taxpayers Unit (UCG) resulted in corrections corresponding to around 522 million euros of missing taxes, according to a report published on Tuesday.
According to the 2023 report on the fight against tax and customs fraud and evasion, made public on Tuesday, 234 inspections were carried out on these taxpayers last year, in addition to procedures related to the control of VAT refunds and the control of high-net-worth individuals, through the automatic information exchange mechanism with other countries.
“Following the procedures carried out by the UGC inspection area, corrections were identified that amount to approximately 522 million euros of potentially missing taxes“, the document reads.
In 2022, these types of procedures resulted in the detection and correction of around €700 million of missing taxes.
IRC, VAT, Stamp Duty and IRS were the taxes that dominated the volume of corrections recorded, some of which were voluntary by taxpayers.
These corrections resulted mainly from the regime of exclusion of capital losses with the transfer of equity instruments of entities located in “tax havens” and also from the improper use of tax benefits.
These two situations represent, respectively, 155 million and 26 million euros of recorded corrections..
The improper use of the general anti-abuse clause and the system of imputation of income from non-resident entities subject to a privileged tax regime (that is, the so-called “tax havens”), are other mechanisms that lead to the detection and correction of defaulting tax values.
The number of large taxpayers monitored by the UGC in 2023 rose to 5,053, compared to 4,818 registered in 2022. The increase was due solely to the number of collective taxpayers, which rose from 3,216 to 3,451, while the number of individuals remained at 1,602.
Tax revenues from taxpayers supervised by the UGC exceeded 24 billion euros in 2023and this value does not include municipal taxes (cases of IMI and IMT, for example).
For a company or entity to be under the scrutiny of this AT unit, it must meet at least one criterion from a list, namely being under the supervision of the banking, insurance or markets regulator, having a turnover exceeding €200 million or a total value of taxes paid exceeding €20 million.
In addition to these, the UCG also monitors entities that enter into transfer pricing agreements or are related to reporting multinationals within the scope of the “Country by Country Report”.
At the level of individuals, the scope of action of the UCG includes people with incomes exceeding 750 thousand euros or with a net worth capacity exceeding five million euros (directly or indirectly, in assets and assets), as well as people with manifestations of wealth consistent with those assets or income.
The UGC also monitors individuals or companies that, although they do not meet these criteria, may be considered relevant because they have a legal or economic relationship with other large taxpayers.
The Government must submit to Parliament the annual report on the fight against tax and customs fraud and evasion before the end of June of the year following the year to which it refers, and the document must include the results obtained, in particular as regards the value of the additional payments made and the amount recovered in various taxes.
Source: Observadora
