- Senate Approval: On 28 October 2025, the Senate approved the bill to preserve the reduced VAT rate for culture, media, and sports, ensuring its continuation from 1 January 2026.
- Changes to VAT Rates: While the reduced VAT rate for cultural and media sectors will remain, the VAT rate on accommodation services will increase to 21% starting 1 January 2026.
- Financial Coverage: The bill is part of the 2026 Tax Plan package, and the funding for maintaining the low VAT rate will be sourced from limiting inflation adjustments on certain income tax and wage tax amounts in 2026.
Source Taxlive
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