resources-post-top-bg International VAT Rate Round Up: April 2021

International VAT Rate Round Up: April 2021

VAT News Updates

7th April 2021: The latest VAT rate announcements and VAT rates changes due to COVID-19.

April 2021 VAT rate changes in the United Kingdom

The VAT rate for hospitality and tourism was reduced from 20% to 5% on 15 July 2020.

An announcement was made and the reduced VAT rate has been extended until 30 September 2021.

After this, the temporary reduced VAT rate will rise to 12.5% until 31 March 2022.

It is expected the VAT rate will return to 20% from 1 April 2022.

Speak with our experts today for a free consultation on your VAT filing or registration needs.

April 2021 VAT rate changes related to Covid-19 in Czech Republic

The Minister for Finance announced that certain penalties and interest due on late payments will be waived due to COVID-19:

  • The penalty for failure to submit a VAT control statement on time for the calendar month February 2021, if the VAT control statement is submitted no later than 15 April 2021;
  • The penalty for failure to submit corrective VAT control statements for previous periods if the time period for submitting these fall between 1 March 2021 and 21 March 2021, if the VAT control statements are submitted no later than 15 April 2021;
  • The penalty for late filing of a VAT return for the taxable period of February 2021 and the penalty relating to the late filing of VAT returns for previous periods in which the taxpayer is obligated to file by the end of March 2021, if these VAT returns are files no later than 15 April 2021; and
  • The interest payment due for late VAT payments for the period of February 2021, if the VAT amount is paid no later than 15 April 2021.

 

Speak with our experts today for a free consultation on your VAT filing or registration needs.

International VAT Rate Round Up: March 2021

If you missed last month’s VAT rate announcements or VAT threshold changes, you can catch up now.

Read the full story here.

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