VAT news tagged as "Euro"


Italy avoids 24% VAT

October 14th, 2016

Italy is presenting a draft 2017 budget which excludes a promised 2% VAT rise from 22% to 24%. In 2015, Italy committed to raising its VAT rate in 2017 if it failed to meet deficit reduction targets. Instead, the government hopes to renegotiate the stringent terms of its Euro-currency membership and avoid further extensive austerity …


Italy VAT rise to 24% 2017

December 15th, 2015

The new Italian Stability Law of 2016 has introduced a potential VAT increase to 24% from 1 January 2017. There would be a second rise in 2018 to 25%. The standard and reduced VAT increases would be as follows: VAT Rate Current Jan 2017 Jan 2018 Standard rate 22% 24% 25% Reduced rate 10% 13% …


Poland cuts VAT from 23% to 22% January 2016

July 8th, 2015

On 8th July 2015, Poland’s government announced  plans to cut the standard Polish VAT rate from 23% to 22% from 1 January 2016.  The decision to bring forward the cut came about as Poland left the EU’s excessive budget deficit procedure recently.  The cut will cost around €1.5 billion per annum. Polish economy recovering Poland has …


Lithuania raises Intrastat reporting threshold

December 11th, 2014

The Lithuanian VAT authorities have confirmed that the annual turnover thresholds for Intrastat reporting are to rise from 1 January 2015. The new thresholds have also been restated in Euro’s for the first time following the adoption of the European currency from 1 January 2015. For the reporting of intra-community arrivals, the threshold will be …


Portugal raises VAT rate from 23% to 23.25% 2015

May 3rd, 2014

Update 3 December 2014: Portugal drops 2015 VAT rate increase As part of its continuing economic recovery programme and exit this month from its €78bn Euro bail out plan, Portugal has submitted a range of new austerity budget measures for 1st January 2015.  This includes a rise in the Standard Portuguese VAT rate from 23% …


EU member states must broaden VAT base

October 13th, 2013

The EU has criticised a number of its 28 member states for failing broaden the net of goods and services subject to Value Added Tax. Many countries have withdrawn some reduced VAT rates A number of countries, such as Spain and Luxembourg, have increased the numbers of goods subject to the higher, standard EU VAT …


Greece increases VAT rate by 2% to 21%

March 3rd, 2010

As part of a series of measures to manage balloning state debt prices and the falling Euro, Greece has announced that it will increase its standard Greek VAT rate from 19% to 21% from 15th March. The new rates are as follows: 19 % to 21 % 4.5 % to 5 % 9% to 10 …