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%
Plan eliminate reduced rate as part of wider 2030 tax simplification plans Vietnam is to consolidating its reduced rate of 5% with the standard rate of 10%. The reduced rate currently includes: Basic foodstuff; transport; agriculture; medicines; cultural, cinema; books; education; scientific and tech. Vietnam
Right to claim delayed VAT payments as pandemic continues to disrupt The Chilean tax authorities, Internal Revenue, has provided a number of reliefs on Value Added Tax payments. These include the option to apply for two months’ payment delays on VAT remittances for small businesses.
Stringent COVID-19 lockdowns lead to VAT break The Chinese Ministry of Finance and State Taxation Administration have confirmed that delivery services will be zero-rated between 1 May and 31 December 2022. This will cover express delivery services of household essentials, aimed at providing some support
Tourism, hospitality, alcohol gets further quarter VAT and duties relief Paraguay has extended reliefs granted to a range of tourism and hospitality sectors VAT and duty reliefs in recognition of the ongoing disruption from the COVID-19 pandemic. The measures have now been prolonged into April,
COVID-19 hospitality VAT rate cut introduced in July 2020 now withdrawn The UK temporary Value Added Tax rate cut on hospitaliy and tourism has now ended, with the sector now returning the standard VAT rate of 20%. The pandemic cut to support hotels, catering and
Third extension of COVID-related VAT subsidy for hotel and restaurant services Moldova has extended for the third time its application of the reduced 6% VAT rate on hotel and restaurant services until 24 April 2022. It was due to run out on 15 March 2022.
42% rise in energy inflation in 2021 and Ukraine conflict prompts VAT cut plan Belgium has confirmed a temporary cut in domestic electricity and natural gas Value Added Tax rate from the standard rate of 21% to 6%. This will apply between March and 30
July VAT cut to follow excise duties cut as energy inflation hits 77% in February The Dutch Cabinet has approved a petrol excise duties cut on fuel from 1 July 2022. It will also cut VAT on energy (natural gas, electricity and district heating) from
ISP fuel tax to be cut as VAT reduction under consideration Whilst Portugal still has only the second highest energy inflation rate in the Euro zone at 12% for January 2021, it has still brought forward a cut to the fuel tax, Imposto sobre os
