23% domestic electricity inflation forces extended tax subsidy The Romanian government is considering an extended reduced VAT rate on domestic energy prices for low-volume consumers. This would maintain the reduced Value Added Tax rate at 5% instead of the 19% standard VAT rate between April
Russia is to exempt providers of catering services from Value Added Tax from 1 January 2024. This includes the following service groups: Restaurants Cafes Hotel (non-accommodation related) Canteens and refectories Sign-up for our free VAT & GST news updates The following requirements will have to
Spiralling global electricity and gas prices force another European country to introduce VAT subsidy The Baltic state of Latvia is considering reassigning domestic electricity supplies from the standard VAT rate to 5% for 2023. The bill is now with Parliament. Any cut would include gas
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
EU Finance Ministers agree reduced VAT rate freedoms at December ECOFIN; 2025 implementation deadline but states may proceed early 2022 A new proposal for more use of reduced VAT rates – including below 5% for the first time (in addition to existing 0% rate option)
Most Central EU states now offer reduced VAT on cafes, restaurants and catering As part of its ‘Tax Revolution’ set of reforms announced earlier this month, the Slovakian government is aiming to reduce the Value Added Tax rate on rest and catering services. The Ministry
Finance Ministers set to review finalised compromise text on reduced VAT rate freedoms at next week’s December ECOFIN meeting. July 2022 implementation still open Last week, VAT experts met to discuss a final compromise draft on giving EU member states more freedoms around setting reduced VAT
COVID-19 forces further prolongation of reduced VAT rates on key supplies Greece has announced a further extension of the temporary cut in the reduced Value Added Tax rate on certain goods from 24% to 13%. The rate will now not return to normal until 30
Finance Ministers set to review finalised text on reduced VAT rate freedoms at December ECOFIN meeting. July 2022 implementation still open Talks are advancing this week on giving EU member states more freedoms around setting reduced VAT rates on a wider ranges of goods and
6-month VAT rate cut to help soften inflation Cyprus is the latest EU state to cut electricity VAT rates. It will move domestic supplies of electricity from the standard VAT rate of 19% to the reduced rate of 9%. This will initially be for a
