VAT news tagged as "European VAT rates"


OECD International VAT/GST Guidelines

April 16th, 2017

The OECD VAT/GST Guidelines received further endorsement this week at the 4th OECD Global Forum on VAT. The guidelines provide a comprehensive framework of standards and principles for countries around the world to follow in the development of coherent and consistant indirect tax guidelines.  In addition, they aim to provide for clarity and harmony on the treatment of cross-border transactions, …


EU non-resident businesses to be wary of compliance crackdown

February 13th, 2015

The austerity pressures on countries to review their tax revenue streams has increased the focus on European VAT rates. We have seen, for instance, increases take place over 2010 and 2014 in Portugal, Italy, Spain, and Greece. With continuing announcements of failure to meet target percentages on borrowing costs, together with direction from the IMF, …


European Union publishes review on reduced VAT Rates

May 21st, 2013

The EU has published a summary of the responses to proposals to reform the reduced EU Value Added Tax rate regime.  Currently, EU member states must levy a standard, higher rate on most goods and services.  However, they are allowed to apply a range of reduced rates to certain public/cultural items (public travel, food, cultural …


EU promotes VAT rate increases

November 20th, 2012

The EC’s Taxation Commissioner, Aldirdas Semeta, has today called for the 27 member states of the European Union to continue to raise EU VAT rates across the region to respond to globalization. It coincides with the UK’s Institute’s warning last week that the UK may have to raise VAT from 20% to 25%. In the …

Czech Republic

Czech VAT increase voted out

September 8th, 2012

The position of whether a Czech 1% VAT rate increase will take place, along with other tax measures remains yet to be determined. The initial proposal to increase the reduced and standard rates to 15% and 21% respectively had been tabled during the first quarter of the year.  The average EU VAT rate is now …


EU VAT rate increases

February 14th, 2010

Whilst the UK cut its VAT rate last year to produce a much needed fiscal stimulus, the rest of Europe has been rushing through emergency VAT rises to combat spiraling fiscal deficits. This has been part of a long-term strategy, increasing revenue share from indirect taxes in favour of company and employment taxes. VAT – …