ISP fuel tax to be cut as VAT reduction under consideration Whilst Portugal still has only the second highest energy inflation rate in the Euro zone at 12% for January 2021, it has still brought forward a cut to the fuel tax, Imposto sobre os
49% inflation prompts VAT cut to domestic heating following cut to basic foodstuffs President Erdogan announced yesterday a cut from 18% standard rate to 8% reduced rate for domestic electricity. Foodstuffs zero-rated announced mid-February. The cut from the reduced rate of 8% to 1% will
First stage GST hike next year with more to come to fund ageing population Singapore is increasing its Goods and Services Tax rate for the first time in 15 years announced today in the 2022 Budget. It will be in two steps: January 2023 rise
Record inflation prompts temporary VAT cut to basic foodstuffs Turkey has become the latest country to temporarily cut VAT to combat inflation. The cut from the reduced rate of 8% to 1% will apply to: Fruit and vegetables Dairy Cooking oil This change should be
Singapore is likely to have to delay its long-planned Goods & Services Tax rise from 7% to 9% due to inflationary pressures. It was suggested that it could be imposed in July 2022 to help meet the costs of an ageing population. However, it is
