The reduced VAT rates were introduced in December 2022 as a response to the economic and social consequences of the conflict in Ukraine and to support the reconstruction of La Palma island. The reduced rates were set to expire on June 30, 2023, but they have been extended due to the high inflation rate in March 2023. The reduced VAT rates will continue to apply until June 30, 2023.
Source: audiconsultores-etlglobal.com
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