Reduced VAT rates - vatcalc.com

VAT cuts as Europe inflation drops to 8.5% February 2023

25/03/2023 in

domestic gas and electricity

February 2023 Eurozone food inflation peaks at 15% (14% January); temporary VAT subsidies for foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation dropped back to 8.5%

Portugal considers food VAT rate cut – food inflation 21.5%

24/03/2023 in

Inflation

Inflation on food accelerates to 21.5% prompts temporary VAT rate cut Whilst Portuguese inflation is drifting downwards – 8.2% in February compared to 10.1% peak in October 2022, food inflation is now at its highest since 1985. This has prompted the Prime Minister, Antonio Costa,

Netherlands food VAT temporary cut proposals – food inflation 18%

23/03/2023 in

COVID-19

One-year zero-rating of food as inflation rises to 8% The Dutch parliament has accepted for review a Bill to reduce VAT on basic foodstuffs for 12 months. This would exclude catering sector – restaurants and cafes, etc. Inflation in The Netherlands hit 8% in February

Poland likely to extend food inflation VAT rate cuts to 1 Jan 2024

23/03/2023 in

domestic gas and electricity

Rise in inflation to 18.4% prompts likely further rollover of VAT on food cuts The current temporary VAT zero-rating of many foods, due to end on 30th June 2023 is likely to be extended again. This time until the end of 2023. This comes as

Belgium domestic heating VAT cut to 6% permanent

22/03/2023 in

Belgium

Chamber of Representatives makes energy VAT cut permanent The Belgian 2023 Federal Budget has changed the temporary VAT cut from 21% to 6% permanent. There will also be reforms of the excise duties on gas and electricity. This covers: electricity, natural gas, heating fuels and

Bulgaria considers ending 9% VAT on catering and restaurants

22/03/2023 in

Bulgaria

Potential early ending to temporary VAT rate cut introduced at height of COVID pandemic Bulgaria is looking to bolster it’s finances with a range of tax changes, including ending from 1 July 2023 a temporary reduction in VAT rate on catering and restaurant services, as

Italy to consolidate VAT rates

21/03/2023 in

Italy

Italy tax reforms may consolidate 3 reduced rates to 2 As part of a sweeping range of tax reforms announced by the Council of Minister, there are plans to simplify the Italian VAT rates. There will also be changes and improvements to the rules on

EU VAT reforms tracker

08/03/2023 in

e-invoicing

The EU is undertaking an extended program of reforms to its Value Added Tax regime. This commenced with the 2016 Tax Action Plan, containing over ten reforms included the later separated 1 July 2021 e-commerce VAT package and the new VAT in the Digital Age

Greece extends again temporary 13% reduced VAT till 31 Dec 2023

23/02/2023 in

COVID-19

Fifth extension of COVID-19 rate cut on non-alcoholic drinks, transport and some tourism The Ministry of Finance has announced a new prolongation of the cut to 13% on a range of supplies. The cut was due to run out on 30 June 2023. Instead, it

Russia cuts tourism VAT to zero from 20% – update

28/01/2023 in

Reduced VAT rates

Tourist operators to gain VAT cut until 30 June 2027 Russian tour operators are to be included in temporary VAT zero-rating extended to tourism services last year. The Ministry of Economic Development has proposed zero-rating their domestic and in-bound tourism services. This will apply between

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