Italy tops EU in budget damages, EPPO report reveals

“Italy Tops EU in Budget Damages, EPPO Report Reveals”

The European Public Prosecutor’s Office (EPPO) report for 2023 has unveiled that Italy ranks first in financial losses to the European budget. In the past year, Italy initiated 556 investigations exposing an estimated 6.02 billion euros in misappropriations. As of December 31, 2023, there were 618 ongoing investigations in Italy, with an estimated damage of 7.38 billion euros, with 5.22 billion euros attributed to VAT evasion.

This data sheds light on the pressing issue of financial misconduct within Italy, prompting the need for enhanced measures to address fiscal irregularities and uphold transparency in budget management. The findings underscore the importance of stringent oversight and enforcement mechanisms to safeguard the financial integrity of the European Union.