Ministry of Finance reconfirms VAT rise to 12% 2025 Following press speculation of a 2024 VAT rise, the Ministry of Finance has confirmed that the second-stage increase from the current 11% to 12% will only come in January 2025. As part of the original Tax
Toursim VAT cut prolonged again for further six months till April 2024 Uruguay has extended again 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 9%
Kenya’s Treasury 2024 budget proposes 2% hike to 18% The ruling Kenya Kwanza coalition has proposed a 2% rise in the standard VAT rate from 16% to 18% in the Draft Medium-term Debt Strategy for the period 2024-25 and 2026-27. The rise would be to
Update: Draft 2024 budget includes 4% increase in the standard VAT rate from 11% to 15% Plans earlier this month to hike Lebanese VAT by 1% to 12% have been scrapped; the emergency rate hike will now be 4% to 15%. This rise will be
Longstanding Oct 2023 VAT rise shelved; Oct 2024 potential next date The Thai Ministry of Finance confirmed on 28 August 2023 that the scheduled rise in VAT from 7% to 10% will not go ahead on 1 October 2023. VAT was cut from 10% to
Aug 2023: Ministry of Finance provides SMB VAT relief for further 5 years as growth slows The Chinese Ministry of Finance and State Administration of Taxation have extended the exemption for small businesses from the 3% VAT rate. Also, the alternative cash-flow based VAT accounting
Ministry of Finance confirms terms of zero-rating for domestic solar panel installations – previous rate was 23% Ireland has joined the growing number of EU states that has taken advantage of new reduced EU VAT freedoms to zero Value Added Tax on the sale and
Federal government proposal to hike VAT from 7.5% to 10% may be accepted by new government Following the call by the Minster of Finance to hike VAT from 7.5% to 10%, the new government if facing calls from several quarters to increase VAT to nearer
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
