resources-post-top-bg Latest VAT rate changes

Latest VAT rate changes

VAT News Updates

10th April 2020: Greece, Kenya, Norway and Moldova are amongst the countries to be impacted by VAT rate changes in 2020.

Greece

The VAT rate is reduced to 6% (from 24%) until 31 December 2020 for the below goods:

  • Protective masks and gloves;
  • Antiseptic products;
  • Wipes and relevant antiseptic;
  • Soap and all other personal hygiene products; and
  • Ethyl alcohol (if this is used as a raw material for the production of antiseptics).

Kenya 

From 1 April 2020, the VAT rate has been reduced from 16% to 14%.

Moldova

The VAT rate for hotels, restaurants and catering services has been reduced from 20% to 15%.

Norway

The reduced VAT rate of 12% will be cut to 8% until the end of October 2020.

The reduced rate is applicable to the below services:

  • Passenger transport;
  • Accommodation;
  • Public broadcasting; and
  • Sporting events.

See more Taxback International Articles

Businesses can avail of VAT reclaim to boost their cash flow during Covid-19 crisis

16 March 2020: VAT reclaim can boost your company's cashflow right now.

EU VAT system amendments to come into force on January 1st 2020.

5th December 2018: The European Council confirmed four adjustments will be made to the current EU VAT rules in order to improve them.

Global VAT updates relating to Covid-19

Updated 7th September 2020: Governments globally continue to alter VAT rates to support their businesses and economies.