After nearly four years of discussion, the Economic and Financial Affairs Council (ECOFIN) approved a VAT rate reform. Under the new rules, EU Member States will be allowed to apply two reduced rates of at least 5% to 24 goods and services. Additionally, every Member State will be able to apply reduced rates lower than 5% to seven out of the 24 product categories.
Source Aleksandra Bal
See also
Latest Posts in "European Union"
- CJEU Confirms TP Adjustments as VAT-Applicable Services, Requires Supporting Documentation
- Court of Justice Rules on VAT for Intra-Group Services and Evidence Requirements for Deductions
- ECJ Rules Compensation Payments in Transfer Pricing as Taxable Supply for VAT Purposes
- ECJ Rules Non-Transactional Profit Adjustments by Principal Are VAT-Applicable Services in Arcomet Case
- Understanding VAT Implications on Transfer Pricing: Insights from Arcomet Case C-726/23
