VAT news tagged as "Standard VAT rates"


Romania 2016 VAT changes

September 30th, 2015

The Romanian Parliament has ratified the 2016 VAT Code, with new changes coming into effect on 1 January 2016. VAT changes: The standard VAT rate will be cut from 24% to 20% on 1 January 2016. There will be a further 1% cut to 19% in 2017 The widening of the domestic reverse charge mechanism …


Israel VAT rate cut to 17% proposal

September 4th, 2015

In an effort to stimulate a flat economy, the Israeli government has proposed a reduction in Value Added Tax to 17%. The indirect tax rate cut, which could boost consumption, would be implemented with a reduction in corporate income tax to 25% from 26.5%. There is some dispute about the ability of the country to …

Costa Rica

Costa Rica changes to VAT

August 30th, 2015

Costa Rica has proposed a range of changes to the exiting Value Added Tax regime, which is in fact closer to a simple sales tax system. The changes include: More services to be subject to the consumption tax Introduction of self-billing and consumption VAT refunds for people below the official poverty line Introduction of reduced …


Slovakia to cut VAT on meat products to 10%.

August 7th, 2015

Slovakia is to follow the example of Romania and Hungary by cutting its VAT rate on fresh meat products from the standard rate of 20% to the reduced rate of 10%. Aside from assisting the local industry, it will help eliminate a large amount of suspected fraud in the sector, which has swept Central and …