International VAT Rate Round Up: June 2023
June 2023 VAT Changes in Belgium
The application of reduced VAT rate on gas and electricity ends on 30 June 2023.
From 1 July 2023, for business gas and electricity goes back to standard VAT rate of 21%.
June 2023 VAT Changes in Cyprus
On 2 May 2023, a decree was approved by the Council of Ministers and the VAT rate on the below has been reduced to 0%:
- Bread (excluding baked goods and any breads with additional ingredients including raisins/nuts etc);
- Baby food (powdered/dry/liquid for,);
- Chocolate, ice cream, sweets, crisps;
- Fresh, condensed, flavoured and plant milk;
- Feminine products; and
- Baby and adult nappies.
The 0% VAT rate will apply until 31 October 2023.
June 2023 VAT Changes in Finland
The application of reduced and zero VAT rate on electricity and public transport ended on 30 April 2023.
From 1 May 2023, the VAT rate for electricity returned to the standard VAT rate of 24% and the VAT rate for public transport returned to the reduced VAT rate of 10%.
June 2023 VAT Changes in Slovenia
A proposal bill has been submitted to extend the reduced VAT rate for energy products until 31 December 2023.
Currently, the reduced VAT rate of 9.5% that applies to energy products such as electricity, natural gas, firewood and heating expired on 31 May 2023.
The proposal bill was submitted on 31 May 2023 and if the parliament adopts the bill, this will apply from 1 June 2023.
International VAT Rate Round Up: May 2023
If you missed out on May’s VAT rate announcements of VAT threshold changes, you can catch up now.
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