An independent research organization in Romania released a study that claimed $24 Billion (€18 Billion) in government revenue was lost due to tax evasion activities. The amount lost is equal to 13.8 percent of the country’s GDP. In terms of percentages, the amount lost in 2012 was slightly lower than the record high of 15 percent in 2011.
Evading cigarette taxes accounted for $388 Million (€291 Million) in losses. Cigarette smuggling accounted for 13.3 percent of the overall tobacco market in Romania.
Evading alcohol taxes accounted for $257 Million (€193 Million) in losses. Alcohol smuggling accounted for 45.7 percent of the overall alcohol market in Romania.
Source: “Tax evasion in Romania stood at 13.8 percent of GDP last year,” Balkans.com, September 16, 2013.