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January 2024 global VAT & GST rises

As global inflation drops, countries return to indirect tax rises

Following two years of inflation VAT cuts, jurisdictions around the world are returning to VAT rises. The reverses a trend plotted by the OECD VAT survey, which reflected governments using VAT cuts to prop-up their economies during COVID and the inflation crises.

Major standard VAT rises from 1 January 2024 include:

Switzerland 0.4% 8.1%

Luxembourg 1% to 17%

Estonia 2% to 22%

Liechtenstein 0.4% 8.1%

Lebanon 4% to 18%

Singapore 1% to 9%

Sri Lanka 3% to 18%

Laos 3% to 10%

Antigua 2% to 17%

Tajikistan cut to 14%


Check all 2024 VAT changes in our live tracker.


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