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Global Upcoming VAT Rate changes – Chronological

Last update: May 3, 2024

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March 31, 2024

  • Uruguay
    • End of the zero VAT rate on hotel-related services to resident tourists

April 1, 2024

May 1, 2024

July 1, 2024

  • Bulgaria
    • End of 9% VAT rate on tourism
  • Cyprus
    • Zero VAT on specific goods ends
  • Greece
    • End of the COVID-19 temporary reduced rates
  • Slovakia
    • [Proposal] Temporary VAT Reduction from 20 to 8% on Gasoline and Diesel due to Inflation from July 1, 2024 till Dec 31, 2025
  • Spain
    • The temporary zero VAT on food products in Spain will now remain in effect until 30 June 2024
  • Vietnam
    • End of the 2% VAT reduction (from 10 to 8%)

September 1, 2024

  • Finland
    • Increase standard VAT rate from 24 to 25.5%

October 1, 2024

  • Thailand
    • VAT rate increase from 7 to 10%

November 1, 2024

  • Ireland
    • End of the reduced VAT rate of 9% for gas and electricity

December 31, 2024

January 1, 2025

  • Bulgaria
  • Estonia
    • Accommodation services and accommodation services with breakfast are taxed at 13% VAT rate (instead of the current 9%)
    • VAT rate for press publications will rise from 5% to 9%
  • Finland
    • Increase Reduced VAT Rate to 14% from 2025. Items include books, pharmaceuticals and public transport, Excluded are newspapers and magazines.
  • Indonesia
    • Standard VAT rate increase from 12 to 15%
  • Israel
    • Standard VAT rate increase from 17 to 18%
  • Portugal
    • Until 31 December 2024, the reduced VAT rate (currently 6% in mainland Portugal, 5% in Madeira, and 4% in the Azores) will remain in force for the supply of electricity for consumption (excluding the fixed components of electricity supplies) in relation to contracted power not exceeding 6.90 kVA, for the portion of the supply not exceeding the following:
      • 100 kWh per 30-day period; or
      • 150 kWh per 30-day period when purchased for consumption by large families (i.e., households including five or more persons).

      In addition, the reduced VAT rate will apply to the acquisition, delivery and installation, maintenance, and repair of machinery and other equipment intended exclusively or mainly for the capture and utilization of renewable energy (e.g., solar, wind, and geothermal energy).

  • Switzerland
    • Introduction of 2.5% VAT rate for feminine hygiene products

March 31, 2025

  • Croatia
    • End of the The reduced rate of 5 percent on heating supplies

During 2027

Unknown

  • Brazil
    • Government aims for 26.5 percent average VAT rate
  • Finland
    • VAT rate on candies will increase from 14 to 25.5%
  • Malawi
    • VAT rise proposal from 16.5% to 17.5%
  • Switzerland
    • VAT rise proposal from 8.1% to 8.5% in 2026

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