International VAT Rate Round Up: August 2024
The August edition of our International VAT Rate Round Up highlights the latest updates from Estonia, Greece, and Vietnam.
Estonia
The new government has agreed on a number of tax measures.
One of these measures includes the announcement that from 1 July 2025, the VAT rate shall be further increased from 22% to 24%.
Greece
In a press release from 20 June 2024, the Greek Ministry of National Economy and Finance announced that the 13% reduced VAT rate on taxis becomes permanent from 1 July 2024.
According to the previous regulation, the application of the reduced rate was temporary for taxis and should have expired on 30 June 2024.
The 13% VAT rate for the rest of the public transport became permanent earlier this year (from 1 January 2024).
The public transport covers train, metro and tram tickets, city and intercity buses, air and ferry tickets, as well as transport by a combination of road, air and sea means.
Vietnam
The Vietnamese Government approved an extension of the 8% VAT rate until the end of 2024.
On the 30 June 2024, the Government issued Decree No. 72/2024/ND-CP extending the application of the 8% VAT rate for the period of 1 July 2024 to 31 December 2024.
The following groups of goods and services are excluded from the reduction:
- Telecommunications;
- Financial activities;
- Banking;
- Securities;
- Insurance;
- Real estate trading;
- Metals and products from prefabricated metals;
- Mining products (excluding coal mining);
- Coke and refined petroleum; and
- Chemical products.
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International VAT Rate Round Up: July 2024
If you missed out on our July VAT rate announcements of VAT threshold changes, you can catch up now.
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