4 June 2020
The German tax office has today announced the following VAT rate reductions, which will be implemented for the period of 1 July 2020 to 31 December 2020:
- Standard VAT rate – reduced to 16% from 19%
- Reduced VAT rate – reduced to 5% from 7%
It is hoped that these reductions will help boost the German economy as the country comes out of lockdown.
If you have any queries regarding the German VAT rate changes, please reach out to your usual Fiscal Solutions contact. Alternatively, click here and a member of our team will be in touch.