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
Second extension of gas VAT cuts until 30 June 2022 as inflation hits 5.7% Italy has extended the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 June 2022. The cut was initially introduced between October and December 2021,
Latest spikes in global fuel prices leads to second extension of reduced VAT rate Spain has again extended to 30 June 2022 its temporary reduction in VAT on domestic electricity from 21% to 10%. The measure was first introduced in June until 31 December 2021.
Federal manufacturing indirect tax IPI discounted to curb inflation and help post-COVID Brazil has discounted by 25% its federal tax on manufacturing, IPI, Imposto sobre Produtos Industrializados. For a number of automobile vehicles, the IPI rates are reduced by 18.5%. This came into effect on 25
3-month payments option for 2021 Quarter 4 VAT period VAT registered taxpayers in Cyprus may opt to pay their December or Quarter 4 2021 returns. However, returns must nevertheless be filed as normal. The payment plan offers three equal instalments on 10th of February, March
Rollover of 12 month VAT payments options The Swedish tax agency is offering resident taxpayers options around the postponement of VAT reporting and payments in the light of ongoing COVID-19 disruption. The package is essentially an extension of tax cashflow help the agency has been
Moldova has extended for the second time its application of the reduced 6% VAT rate on hotel and restaurant services until 15 March 2022. It was previously at the 12% reduced rate. Reduced rate first introduced in June 2021 Moldova first cut Value Added Tax
Polish Ministry of Finance issues “Anti-Inflation Shield 2.0” – food and energy VAT rate cuts The Polish Finance Minister has won Parliamentary approval to cut to zero that VAT rate on basic foods due to concerns over inflation. This would be introduced between 1st February
Global wholesale price fresh highs forces extension of reduced VAT rate until 30th April 2022 Spain has extended from 31 December 2021 to 30 April 2022 the application of the reduced VAT rate of 10% on domestic electricity. Other European electricity VAT cuts have now
2020-21 figures show Value Added Tax receipts down 22% due to emergency VAT deferral Figures released 14 December show the full effect of the COVID-19 pandemic on VAT receipts, including the March and June 2020 VAT payment deferral scheme used by over half a million
