VAT news tagged as "Inflation"

Gulf VAT threatens inflation

April 18th, 2016

The Chartered Financial Analyst (CFA) Institute has warned that the introduction of Value Added Tax to the six Gulf states would likely create an inflationary effect. The CFA surveyed its members, and found 33% of the respondents believed there may be a rise in the region’s VAT rate as the result of the introduction of …

South Africa

South Africa pressure to raise VAT rate

July 14th, 2015

A recent tax commission report has recommended that South Africa raises its VAT rate from 14% to 18%. South Africa’s VAT rate is one of the lowest in Africa where the average is just over 17%. The European Union average VAT rate is over 21%. The recommendation came from the Davis Tax Commission, which points …

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 …