Food inflation in the eurozone was at 10.8% in August, leading many governments to use VAT as a tool to combat rising prices. Here are some of the changes made to VAT rates and rules in September:
– Bulgaria: VAT-registered businesses must now report on cash holdings and specific receivables.
– Czech Republic: The 10% and 15% VAT rates will be merged into a single rate of 12% from January 2024.
– Cyprus: The temporary reduced VAT rates of 5% and 19% on certain essential goods will be extended for six months.
…..
Source Innovate Tax
Click on the logo to visit the website
Latest Posts in "World"
- Understanding VATs and Tariffs: Essential Tax Principles for U.S. Global Business Success
- IMF Paper Analyzes VAT Efficiency in Revenue Generation and Non-Revenue Objectives
- Renewed Concerns Over Digital Services Taxation as Global Tax Reform Stalls
- E-Invoicing Reimagined: A Fresh Approach to VAT Calculation and Payment
- VATupdate Newsletter Week 35/2025