VAT news tagged as "Restaurants"

Hungary

Hungary cuts restaurant VAT to 18%

January 22nd, 2017

Hungary reduced the VAT rate on restaurant services, excluding alcoholic beverages from the standard 27% VAT rate to the 18% reduced rate. The change came into place on 1 January 2017. There is a proposal to reduce this to 5% from 1 January 2018.


Portugal

Portugal restaurant VAT cut to 13%

July 1st, 2016

Portugal has granted its restaurant and café sector and important subsidy with a reduction in the VAT rate for their food services from 23% to 10% from 1 July 2016.  The rate will drop to 9% and 12% for Azores and Madeira, respectively. Portugal raised its restaurant rate to the standard rate of 23% in …


Portugal

Portugal VAT changes

February 28th, 2016

Portugal is proposing a range of VAT changes to the VAT Law, Codigo do Imposto sober o Valor Acrecentado. Simplifications to the low-value invoice disclosure requirements.  The simplifications are available for invoices below the value of €1,000 VAT on bread will be cut to the reduced rate of 6% The VAT rate on restaurants and …


Portugal

Portugal restaurant VAT cut proposal

February 13th, 2016

The new Portuguese draft budget contains a proposal to cut the VAT rate on non-alcohol restaurant services from the 23% standard rate to the reduced, 13% rate. The budget has received a cautious approval from the European Commission, which monitors € currency countries compliance with deficit rules. The budget has now been sent to the …


Greece

Greece wants to cut reduced VAT rate

June 8th, 2014

Greece has launched an ambition set of promises on lowering the rates of major taxes. This included cutting the reduced Greek VAT rate from 13% to 12%. The Greek VAT rate increased twice during the financial crisis and is now 23%. Many of goods previously categorised at the reduced rate were subsequently reclassified at the …


Sweden

Sweden claims restaurant VAT cut creates jobs

March 9th, 2014

As a number of countries review tourism VAT subsidies, a tourism trade association has claimed that the reduced Swedish VAT rate on restaurants has been a job-creation success, but largely for immigrant workers Does reduced tourism VAT create jobs? Sweden cut its restaurant VAT rate to 12% in 2012 from the standard rate of 25%.  …


United Kingdom

UK rejects tourism VAT rate cut

February 11th, 2014

Following a debate in the UK’s House of Commons this morning, David Gauke (Treasury Minister) said that the UK government will not consider a reduction in the UK VAT rate for the tourist industry.  The government warned that there is no proven link between tax subsidies and tourist numbers.  A reduction in the tourism VAT …