VAT

Bundestag approves big tax relief for restaurants

Germany has passed a wide-ranging tax relief package that includes a slashing of the sales tax rate for restaurants. The tax reform bill, was approved Thursday by the Bundestag, Germany's…

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German lawmakers consider slashing restaurant taxes

The German parliament is discussing a plan to permanently lower sales tax on restaurant food to the same level that it was at during the coronavirus pandemic. The move is…

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Higher VAT rate for Irish hospitality sector to remain

The Irish Minister for Public Expenditure and Reform has said the higher VAT rate for hospitality will remain, despite claims by the Restaurants Association of Ireland that hundreds of businesses…

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Portugal to extend zero VAT rate on basic food until end 2023

LISBON, Sept 7 (Reuters) - The Portuguese government on Thursday will extend the zero rate of value-added tax (VAT) on basic food staples by two months to the end of…

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Spain won’t reinstate VAT on basic foods until price rises ease – minister

MADRID, June 12 (Reuters) - Spain will not reinstate the value-added tax (VAT) on essential food until price levels are "more appropriate", Economy Minister Nadia Calvino said on Monday, adding that a…

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UK government proposes VAT cut to ease pain of rising prices

(Reuters) - Britain has proposed a cut in value-added tax, or VAT, to help households with the cost of living, The Times reported. Prime Minister Boris Johnson's chief of staff Steve Barclay suggested reducing the…

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EU paves way for cheaper internet, bicycles, solar panels through lower VAT

European Union finance ministers agreed on Tuesday to change EU rules so that they can cut the Value Added Tax (VAT) on goods and services linked to fighting climate change, health protection…

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Sunak considers cutting VAT on household energy bills

(Reuters) - British finance minister Rishi Sunak is considering a cut to the 5% rate of value-added tax on household energy bills, the Financial Times reported on Sunday. Government officials…

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Malta: Magistrate charged with VAT offences

Magistrate Monica Vella is charged with VAT offences after tax authorities flag discrepancies between stated income from work she appears to have carried out beyond her duties as magistrate Source…

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EU countries lost €140 billion in VAT revenues in 2018, with a potential increase in 2020 due to coronavirus

EU countries lost an estimated €140 billion in Value-Added Tax (VAT) revenues in 2018, according to a new report released by the European Commission today. Though still extremely high, the…

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European Commission approves waiving of customs duties and VAT on medical devices and equipment

The European Commission approved requests from Member States and the UK to temporarily waive customs duties and VAT on the import of medical devices, and protective equipment, from third countries…

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British businesses told to complete Brexit preparations

The British HM Revenue and Customs has written to businesses that trade with the EU, urging them to step up their preparations for a potential no-deal Brexit. HMRC’s deputy chief…

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EU countries lost €137 billion in VAT revenues in 2017, Malta registers large decrease in VAT losses

EU countries lost €137 billion in Value-Added Tax (VAT) revenues in 2017 according to a study released by the European Commission today. The so-called 'VAT Gap' - or the overall…

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UK VAT set to increase after Brexit

MPs have warned of the dangers of the Brexit transition period after it emerged that hundreds of thousands of small businesses could be forced to pay VAT for the first time after Britain…

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European Commission welcomes progress on improvements on VAT in EU

The European Commission has welcomed the progress made today by Member States on much-needed improvements to how Value Added Tax (VAT) works in the EU. Tuesday's meeting of EU finance…

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Greece, Romania and Italy register highest VAT evasion

Romania (35.88%), Greece (29.2%) and Italy (25.9%) have registered the highest VAT tax evasion in the past years. As a whole, the EU recorded revenue losses on VAT of €…

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