Finance Minister reconfirms VAT rise to 12% 1st January 2025 Following press speculation of a 2024 VAT rise, Finance Minister Sri Mulyani Indrawati, has confirmed this week that the second-stage Value Added Tax increase from the current 11% to 12% will only come in January
2025 budget to end COVID VAT cut to 9% for restaurant and catering services The Bulgarian 2025 draft budget is to withdraw the temporary reduced VAT rate of 9% on restaurant services from 1 January 2025. The measure was first introduced in July 2020. The
Tourism VAT cut prolonged again for further six months till 30 April 2025 Uruguay has extended for the third time its reduced Value Added Tax rate for tourism services as the economic effects of the coronavirus continue. VAT on hospitality services is normally 22%. This
Further six month extension of cut to 8% on key sectors A 2% VAT rate cut on essentials first brought in by the Vietnamese Ministry of Finance in February 2022 has been given a new prolongation. This time from 30 June 2024 until 31 December
End of inflation spike means 2022 temporary zero-rating to be phased out The Spanish temporary zero-rating of bread, flour, certain types of milk, cheeses, eggs, and fruits, vegetables, legumes, tubers, and cereals is to be phased out as inflation returns from a 10.8% 2022 peak
Taxis and takeaway beverages to remain at 13%; onsite beverages returns to 24% The Greek Ministry of Finance has confirmed that the COVID temporary VAT rate of 13% on taxis and takeaway or delivery non-alcoholic beverages will now be permanent. They were due to return
Further extension of VAT rate cut to natural gas supplies until 31 December 2023 Italy has gazetted an eighth extension to the super reduced VAT rate on the supply of nature gas. The rate will continue to be 5%. The current temporary cut from 2021
Further extension of COVID-related VAT subsidy for hotel and restaurant services Moldova has extended for the sixth time its application of the reduced 6% VAT rate on hotel and restaurant services until 1 December. It was previously at the 12% reduced rate. Reduced rate first
Cut from 13.5% to 9% ended after 3 extensions following COVID and inflation crises After almost three years since the COVID crisis, Ireland has returned its hospitality, hotels and tourism VAT rate to 13%. It was originally cut to 9% in November 2020. The temporary
One-year zero-rating of food as inflation rises to 8% The Dutch parliament has accepted for review a Bill to reduce VAT on basic foodstuffs for 12 months. This would exclude catering sector – restaurants and cafes, etc. Inflation in The Netherlands hit 8% in February
