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VAT is payable at the standard rate unless the supply meets certain conditions (e.g. domestic supplies, or supplies that use less than 1,000 kWh per month) in which case they are charged at the reduced rate of 5%. [13]
After gaining power, the new Labour Chancellor Gordon Brown announced in July 1997 that the lower rate of VAT on domestic fuel and power would be reduced from 8% to 5% with effect from 1 September 1997. [14] [15] In November 1997, Brown announced that the VAT on installation of energy-saving materials would be reduced from 17.5% to 5% from 1 ...
25% (reduced rate of 15% for groceries, and 10% for transport and culture.) Poland: 19% (Reduced rate 9% for small business since 01.01.2019) 12% up to 120 000 PLN (from 1.07.2022) minus tax-reducing amount of 3600 PLN 32% above 120 000 PLN, with 10,800 PLN for the first 120 000 PLN + 32% of the excess over 120 000 PLN [54]
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 sigma falls differently on different groups in each country and sub-national unit.
EU VAT Tax Rates. 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.
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 have a 0% VAT rate on certain items; these states agreed this as part of their accession (for example, newspapers and certain magazines in Belgium).
Different rates of VAT apply in different EU member states. The minimum standard rate of VAT throughout the EU is 15%, although reduced rates of VAT, as low as 5%, are applied in various states on various sorts of supply (for example, domestic fuel and power in the UK). The maximum rate in the EU is 25%.
Iceland reduced the standard tax rate from 25.5% to 24% (and the tax rebate rate increased from 7% to 11%), but some countries’ tax rates are increasing. Luxembourg's standard tax rate has increased from 15% to 17%. The main reason for the increase.
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