12 June 2014
The VAT rate increase to 17% effective 1 January 2015 has been agreed in principle by the government. The intermediate rate of 12% will also increase to 14% and the reduced rate from 6% to 8%. The super-reduced rate of 3%, which is applied to, for example, food items, will not be changed, but it is expected that its scope will be reviewed in respect of its application to real estate transactions.
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