VAT news tagged as "Standard VAT rates"

Greece

Greece VAT rate cut to 22% 2021

September 9th, 2018

The Greek government has committed to reduce its standard VAT rate by 2% from 24% to 22% by 2021. It last raised its VAT rate from 23% to 24% in June 2016. Previously, during the height of the financial crisis, it had increased the rate twice in 2010 from 19% to 23%. The latest announcement comes as …


Romania

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

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 …