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VAT measures in response to COVID-19 announced: 2 month reduction of the VAT rates

Two-month suspension of payment of VAT without the imposition of penalties as a measure to enhance liquidity for businesses with turnover not exceeding EUR 1 million based on the VAT returns submitted during 2019, and businesses whose turnover has been reduced by more than 25%.

A temporary reduction in the standard rate of VAT from 19% to 17% for two months, and in the reduced rate of VAT from 9% to 7% for 3½ months.

Source: Deloitte

EY

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