General VAT increase in September – impact on consumers and businesses explained by Tax Administration

• General value added tax will increase from 24% to 25.5% on September 1st
• Prices of many products and services will rise due to the tax increase
• The increase does not apply to products and services with a 10 or 14% VAT rate
• The tax rate depends on the delivery or performance date
• Businesses may need to update their billing or cash register systems
• Correcting invoices or receipts by hand is allowed if necessary
• The increase does not affect reduced VAT rates for certain goods and services

Source: vero.fi

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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