Search results
Results from the WOW.Com Content Network
The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code.
The European Union VAT is mandatory for member states of the European Union. The EU VAT asks where supply and consumption occurs, which determines which state collects VAT and at what rate. Each state must comply with EU VAT law, [56] which requires a minimum standard rate of 15% and one or two reduced rates not to be below 5%. Some EU members ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The quoted income tax rate is, except where noted, the top rate of tax: most jurisdictions have lower rate of taxes for low levels of income. Some countries also have lower rates of corporation tax for smaller companies. In 1980, the top rates of most European countries were above 60%. Today most European countries have rates below 50%. [1]
This is a list of countries by tariff rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1 . Import duty refers to taxes levied on imported goods , capital and services.
A value-added tax identification number or VAT identification number (VATIN [1]) is an identifier used in many countries, including the countries of the European Union, for value-added tax purposes. In the EU, a VAT identification number can be verified online at the EU's official VIES [2] website. It confirms that the number is currently ...
The Value-Added Tax (VAT) is part of the acquis communautaire, and two directives (1977 and 2006) closely codify the VAT regime in EU Member states, with a minimum standard rate of 15% and a restricted list of reduced rates.
It can reclaim (subject to various rules) the VAT it pays, and so passes to the government the net VAT it collects (being output tax less input tax). In this way, a business acts as a tax collector on behalf of the government. Within the European Union, member states charge VAT at differing rates on goods as a form of indirect taxation. All ...