VAT news tagged as "Standard VAT rates"

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 …


Slovakia

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 …