European Union’s Official Gazette released EU Council Directive No. 2022/542 of 5 April 2022, introducing reforms to value-added tax (VAT) rates for all member states. The majority of country-specific rates (i.e., derogations) will be made available to all member states. The new guidelines allow for broader usage of reduced rates, including the use of zero rates for essential items such as
- food,
- medications, and
- medical products.
Source: GVC
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