10 May 2019
The Italian government are trying to avoid increasing the countries standard VAT rate from 22% to 24.2%, this increase is scheduled for January 2020.
Due to Italy having the second highest level of debt in the European Union, they previously agreed with the European Commission (EC) to increase their VAT rates if certain budgetary targets were not met.
It now seems that even though these targets will not be achieved, the current Italian government are adamant that the VAT rate in the country will not increase as agreed.
LATEST NEWS
Emergency VAT measures to combat the financial impact...
Due to the negative financial impact that the Coronavirus pandemic is having on businesses all over the world, a number of tax authorities have implemented...
SEE MORE
LATEST NEWS
Greece to reduce VAT rate on public transport, coffee...
The Greek tax authorities have confirmed that the VAT rate on public transport, coffee supplies and non-alcoholic drinks will be reduced from 24% to 13%. This...
SEE MORE
LATEST NEWS
Portugal to reduce the VAT rate on gym and health club...
The Portuguese tax office has announced that the VAT rate on gym and health club memberships is to be reduced to 6%. To find out how this update could impact...
SEE MORE