VAT news tagged as "VAT rise"

South Africa

South Africa raises VAT to 15% April 2018

February 21st, 2018

South Africa today announced an increase in its VAT rate from 14% to 15% on 1 April 2018. This is the first increase in 25 years since the ending of apartheid in the country. Growth in the country has been slowing for a number of years, and the government deficit opening up to 4.3% in …


Lebanon

Lebanon VAT rise to 11% Jan 2018

January 7th, 2018

Lebanon has gazetted a rise in its Value Added Tax from 10% to 11% from 1 January 2018. The rise was originally approved by Parliament in October 2017.  The increase in VAT is part of a range of tax rises being introduced to help control the rapidly rising state debt levels.  Following a number of years …


Italy

Italy VAT rises to 24.2% 2019

November 11th, 2017

Italy’s 2018 Budget (Manovra), ratified on 31 October, confirmed a postponement of the 2018 VAT increase from 22% to 24.2%. The planned rises in rates, to support € currency fiscal targets, are now set as follows:


Netherlands

Dutch cut labour taxes via VAT rise

October 24th, 2017

The Netherlands has announced a reduced VAT rate rise from 6% to 9% to pay for income tax rate cuts and band simplifications. The number of income tax bands will be reduced from 4 to 2, and the rates combined to benefit over half a million income tax payers.  The reduced VAT rate rise will …


Italy

Italy cancels 2018 VAT rise

October 20th, 2017

The Italian Council of Ministers have overturned plans to raise the Italian VAT rate from 22% to 25% on 1 January 2018. The reduced VAT will also remain at its current level, 10%, instead of a planned rise to 11.14%. In the draft 2018 Budget Law there had been a provision to raise the VAT …


Netherlands

Netherlands reduced VAT rise to 9%

October 10th, 2017

The new Dutch government has proposed increasing the reduced VAT rate from 6% to 9%.  The reduced VAT rate applies to basic foodstuffs, books, hair dresser services, swimming pool entrance, medicines, art, antiques, entry to museums, zoos, theatres and sports and a variety of other services. The likely implementation date is 1 January 2019. Prime Minister Mark …


Costa Rica

Costa Rica VAT rise to 15%

August 20th, 2017

The government of Costa Rica has put forward a proposal for an increase in VAT from 13% to 15%. The tax rise is part of a package of changes presented to parliament last week.  It included expansion of the corporate income tax net to global income.


Switzerland

Switzerland votes on VAT rise

August 19th, 2017

Switzerland is to vote on September 24 whether to raise its VAT rate from 8% to 8.6%. A gfs.com poll this week has put the in-favour vote at 53% of the electorate.  The rise is designed to help fund pension fund reforms. The VAT increase would fund a compensation payment to retiring workers who will …


Russian Federation

Russia VAT rise to 22% January 2019

May 10th, 2017

The Russian Finance department has confirmed that it intends to raise VAT from 18% to 22% on 1 January 2019.  The rise will help fund an cut to the employees tax rate to 22% from 30%.   The Russian government deficit has widened over the past few years with the decline of oil revenue taxes …