Minimum VAT rate of 15% extended by the EU until December 2017

29 June 2016

The European Union has decided that it will retain the minimum standard rate of VAT at 15% until at least the 31 December 2017.

This minimum VAT rate means that no EU member state can reduce their standard rate of VAT to less than 15%. This is intended to prevent large differences between the standard rates of VAT in all EU member states.