International VAT Rate Round Up: March 2022
March 2022 VAT Changes in Croatia
The Croatian government has announced it will cut the VAT rate on heating and food as the inflation rate hits high levels.
The VAT rate will be reduced for such things as:
- VAT on tickets for sports, cultural and other events will be reduced from reduction 25 % and 13 % to 5%;
- VAT on fruit and vegetables, meat and fish, eggs, fruit, fertilizers, pesticides will be reduced from 13 % to 5%;
- VAT on butter and margarine will be reduced from reduction from 25% to 5%;
- VAT only on gas is reduced from 25% to 5% from 1 April 2022 to 31 March 2023. From 1 April 2023, the VAT will be 13%; and
- VAT on heat supply will be reduced from the current 25% to 13%.
March 2022 VAT Changes in Romania
Romania has proposed a bill that would reduce the VAT rate of car fuels (gasoline, liquefied petroleum and diesel to 5% from 1 April 2022.
This needs to go through the Senate and the Chamber of Deputies to be approved.
March 2022 VAT Changes in Singapore
Singapore has announced there will be a phased increase in the GST rate over 2023 and 2024:
- From 1 January 2023, the GST rate will increase from 7% to 8%; and
- From 1 January 2024, the GST rate will increase to 9%
March 2022 VAT Changes in Turkey
Turkey announced the VAT rate for the delivery of basic foodstuffs is reduced from 8% to 1% from 14 February 2022.
This reduced VAT rate will apply to the following:
- Fruit and vegetables;
- Dairy products; and
- Other basic food items.
International VAT Rate Round Up: February 2022
If you missed last month’s VAT rate announcements or VAT threshold changes, you can catch up now.
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