Ministry of Finance say considering repeat of 2022 rate cut from 10% to 8% on basics to boost flagging growth The Vietnamese Finance Ministry has indicating it will repeat into 2023 a VAT rate cut on basic supplies. The Vietnamese economy growth is slowing: Q1
3-month reduction for catering and sport-related activities permanent from 1 April 2024 The Slovak Republic had agreed to a halving of the VAT rate on a range of supplies between 1 January and 31 March 2023. This has now been made permanent from 1 April
Ending of prolonged temporary VAT rate cut from 14% to 12% Botswana’s Unified Revenue Service has confirmed that the standard Value Added Tax rate has reset to 14% on 1 April 2023. This follows a nine-month reduction following inflation concerns. Jan 2023 Extension of temporary inflation
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
Indian Ocean Island state increases GST and Tourism Tax from 1 January 2023 to finance debt costs The Maldives has passed a rise in the Goods and Services Tax from 6% to 8%. It will also increase the Tourism Goods and Services Tax (TGST) from
Parliament review VAT rate cuts to food, restaurants and other services The Riigikogu, the Parliament of Estonia, is reviewing a Bill to reduce to the reduced VAT rate of 5% the following supplies: Food excluding alcohol and tobacco Restaurant and catering feed and mixed feed
Proposals to cut indirect taxes on fuels as inflation ticks up Vietnam’s finance ministry has put forward two alternative measures to cut indirect taxes on fuel. These are: Cut VAT 20% and Special Consumption Tax by 50%; or Cut VAT and Special Consumption Tax by
Temporary VAT cut to 9.5% bill on domestic energy and electricity Slovenia’s National Assembly has confirmed a VAT rate cut on gas bills from the standard VAT rate 22% to the reduced rate of 9.5%. The temporary reduction will be in place between 1 September
Inflation hits 12.7% prompting temporary reversal of 2021 VAT rise Botswana is to cut VAT from 14% to 12% from 1 August until 31 January 2023. Botswana raised VAT to 14% in April 2021. The measure was to shore up revenues following the COVID-19 crisis
