Germany’s standard VAT rate has returned to 19% on 1 January 2021. Restaurant 7% rate continues until end of 2022 Germany temporarily cut its 19% standard VAT rate to 16% from 1 July until 31 December 2020. This was to help consumers and businesses struggling
Germany’s standard VAT rate has returned to 19% on 1 January 2021. Restaurant 7% rate continues until end of 2022 Germany temporarily cut its 19% standard VAT rate to 16% from 1 July until 31 December 2020. This was to help consumers and businesses struggling
The Balkan state of Montenegro has made a number of changes to its Value Added Tax regime from 4 August 2020. These are as follows: Shifted provision of accommodation, restaurant and hospitality services from the standard VAT rate of 21% to the reduced rate of
Saudi Arabia has increased its standard VAT rate from 5% to 15% from 1 July 2020. The aim is to sure up government revenues as the COVID-19 crisis has led to a fall in global oil prices and oil duties for the Arab Gulf state.
COVID-19 forces tax support for key sectors Bulgaria is to reassign a range of supplies from the standard VAT rate of 20% to the reduced VAT rate of 9%. This will apply between 1 July 2020 and 31 December 2021. The tax break is designed
The Czech Republic (Czechia) has recast its reduced VAT rates again from 1 May 2020. This mostly includes reclassifying many goods from 15% to the second reduced rate of 10%. The standard Value Added Tax rate is 21%. The cuts will apply until 16 August
Japan has raised its main Consumption Tax rate from 8% to 10% on 1 October 2019. It has also created a new reduced rate of 8% for basic supplies. This is the second rise in the indirect tax in recent years. The last was a
Russia is to raise its Value Added Tax standard rate from 18% to 19% from 1 January 2019. The special reduced rate on the B2B and B2C supply of Russian digital services will also rise from 15.25% to 16.67%. Reduced VAT rate unchanged There will
COVID-19 tax support to key sectors The Baltic state of Latvia has introduced a reduced Value Added Tax rate of 5%. This will apply to certain fresh fruit, berries and vegetables. This includes fresh shelled, cut and packed produce. The new rate will only be
The central American state of Ecuador has cut its standard Value Added Tax rate from 14% to 12% from 1 June 2017. The Internal Revenue Service (Servicio de Rentas Internas, SRI) originally raised the rate to 14% in 2016 following a major earthquake. There is
