In 2008 VAT receipts had already diminished by 1.5 per cent, against an increase of 2.3 per cent in household consumption, the macroeconomic variable that best approximates the VAT tax base.
VAT receipts have continued to fall this year: they were down by 10.2 per cent in  2  BIS Review 27/2009  the first quarter from a year earlier (and by 12.1 per cent in the second quarter), while consumption fell by 2.6 per cent.