27 February 2015
The new government has announced a range of VAT reform measures:
- A proposed new VAT rate on luxury goods (this includes high-value cars, boats, aircraft, helicopters, swimming pools, watches and perfumes). This may not be permitted by the European Union as Member States are normally only permitted a standard and two reduced VAT rates under the EU VAT Directive.
- A reclassification of many basic foodstuffs from the reduced VAT rate of 13% to the second reduced rate of 6%.
LATEST NEWS
UPDATE: 2025 SME Special Scheme introduces pan-EU...
From 1 January 2025, significant changes to the EU’s SME scheme will extend VAT registration thresholds for EU companies trading in other EU member...
SEE MORE
LATEST NEWS
Chile - B2C Sellers and marketplaces to charge VAT in...
At the end of October, the Chilean Congress enacted the Tax Compliance Bill (Proyecto de Ley de Cumplimiento de las Obligaciones Tributarias), introducing...
SEE MORE
LATEST NEWS
Philippines implements VAT on e-services provided by...
In October 2024, President Ferdinand Marcos Jr. of the Philippines signed into law Senate No. 2528 , introducing VAT on digital services provided by foreign...
SEE MORE