VAT news tagged as "Food"

Lithuania

Lithuania cuts food VAT

August 29th, 2018

Lithuania has proposed reclassificying foodstuffs from the 9% reduced VAT rate to 5%. The standard VAT rate in the Baltic state is 21%. The measure must first be approved by Parliament, but, given heavy inflation in the retail sector, is likely to pass.


Barbados

Barbados VAT changes

July 31st, 2015

The Barbados Budget for 2015/2016 was approved by parliament this month. VAT changes included: The VAT registration threshold is to by increased from BBS$ 80,000 to BBS$ 200,000 per annum The gaming industry is to be brought into the VAT net, with the introduction of the standard 17.5% from 1 September 2015 The range of …


Slovakia

Slovakia to cut food VAT rate 2016

July 13th, 2015

Slovakia has proposed a reduction in its VAT rate on basic foodstuffs from 20% to 10% from 1 January 2016. The Slovakian VAT rate on basic foodstuffs is one of the highest in the European Union. It is set at its standard VAT rate of 20%. Most other EU countries apply a reduced VAT rate …


Greece

Greek luxury goods and reduced basics VAT

February 11th, 2015

The new Greek anti-austerity government has announced a range of tax reform measures designed to ease the burden on the population. These include: A new Greek VAT rate on luxury goods (high-value cars, boats, aircraft, helicopters, swimming pools, watches, perfumes etc.).  It is not clear that this would be permitted by the European Union since …


Romania

Romania plans reduced VAT rate extension

September 21st, 2014

The government is planning to role reduced Global VAT News,Romania May Reduce-Rate Food After ‘Successful’ Pilot Initiative,(Sep. 22, 2014). The Romanian Government is being encouraged to expand the reduced rate of value-added tax (VAT) to all basic foodstuffs, after a pilot initiative covering bread and bread-making inputs was reported to have substantially reduced grey market …


Mexico

Mexico VAT changes

November 18th, 2013

The Mexican budget for 2014 has been approved.  This confirmed that the planned inclusion of foodstuffs in the VAT net would not go ahead. Mexican VAT reform held back. The new government had been keen to extend the Mexican VAT net to raise revenues and balance federal receipts.  Mexico is heavily dependent upon oil receipts.  …