10 VAT rate changes due on 1st January 2025

• Indonesia is increasing its VAT rate from 10% to 12%.
• Finland is reclassifying certain goods and services, resulting in a VAT rate increase from 10% to 14%.
• Spain is ending the temporary zero-rating on basic foods, raising the VAT rate on these items from 0% to 4%.
• Vietnam is returning its VAT rate on essential goods from 8% to 10% after a temporary 2% rate cut.
• Germany is lowering the VAT rate on sales of artwork from 19% to 7%.
• The UK is ending the VAT exemption on private education, subjecting it to a 20% VAT rate.
• Israel is increasing its standard VAT rate from 17% to 18%.
• Portugal’s VAT rate on basic foods will return to 7% from 0%.
• Slovakia has proposed a 3% increase in the standard VAT rate, potentially raising it from 20% to 23%.
• Tajikistan is reducing its standard VAT rate from 14% to 13%.

Source Innovate Tax

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• Global Upcoming VAT Rate changes – Chronological, click HERE

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