Inflation at 11.2% forces forth prolongation of reduced VAT rates on key supplies Greece has announced a potential fourth extension of the temporary cut in the reduced Value Added Tax rate on certain goods from 24% to 13%. This latest extension is included in the
New VAT cut from 21% to 5% for natural gas to 31 December 2022 likely to be prolonged into 2023 The Spanish government’s cut to the Value Added Tax rate on domestic natural gas from 21% to 5% may have to be extended beyond the
9.9% August inflation prompts second 3-month extension of electricity, gas and heating VAT rate cut to 31 March 2023 As Belgian energy inflation hit 50% in August, the temporary cut in heating VAT rate was extended a further 3 months until the end of quarter
Existing transport VAT rate discount extended to 31 December 2022 The Paraguayan President’s department has rolled over the 50% VAT discount – to an effective reduced VAT rate of 5% from the standard rate of 10%. This was due to end on 31 September; it
Third extension of gas VAT cuts until 31 December 2022 as inflation hits 7.9% in July 2022 Italy has extended for the forth time the temporary cut in Value Added Tax rate on domestic and industrial use gas until the year end. Italian inflation has
Third extension of gas VAT cuts until 30 September 2022 as inflation hits 8% in June 2022 Italy has extended for the third time the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 September 2022. Italian inflation has
9.7% June inflation prompts 3-month extension of electricity, gas and heating VAT rate cut to 31 December 2022 As Belgian energy inflation hit 56% in June, the temporary cut in heating VAT rate was extended a further 3 months until the end of the year.
July VAT cut to follow excise duties cut proposal as May inflation hits 8.8%; energy inflation 105% Proposals to cut VAT on electricity from 21% to 9% between 1 July until 31 December 2022 have now been approved by both houses of the Dutch Parliament.
Domestic electricity rate to be cut from 10% to 5% as inflation hits 8.7% in May Prime Minister Pedro Sanchez announced in Parliament on 22 June a plan to half the VAT rate on domestic electricity to 5%. It was originally cut from the 21%
Ongoing economic disruption means VAT cut prolonged for further six months Uruguay has raging extended its reduced Value Added Tax rate for tourism services as the economic effects of the coronavirus continue. VAT on hospitality services is normally 22%. This was cut to 13% in
