Netherlands hit by financial and Euro crisis; forces VAT rise
The Netherlands has raised its standard Value Added Tax rate from 19% to 21% from 1 October 2012. The comes as the country attempts to control its budget deficit and market confidence in the midst of the Euro currency. This also comes off the back of the 2007/08 global financial crisis.
The reduced VAT rate of 6% will also rise, but not until 1 January 2019 to 9%.
The standard rate had been at 19% since January 2001.
VAT Calc’s global VAT and GST rates checker provides live indirect tax rates from around the world. Many other European states have been forced into austerity VAT rate changes include: Hungary, France, Spain, Greece, Czech Republic.