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VAT rate changes in Europe 25/01/2012 | Member countries of European Union have raised or are planning to raise VAT in 2012:
- Cyprus is planning to increase a standard rate of VAT from 15% up to 17% starting from the 1st of March 2012.
- Hungary has raised the standard VAT rate from 25% to 27% on the 1st of January 2012. Now VAT rate in Hungary is the highest in Europe.
- VAT in Ireland rate increased from 21% to 23% from the 1st of January 2012.
- Poland is planning to increase VAT rate up to 24% from June 2012.
- Italy will increase VAT rate up to 23% from September 2012.
For general information: VAT rate in Netherlands – 19%, United Kingdom – 20%, Latvia – 22%.VAT rate in Switzerland – 8%. | | |
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Offshore jurisdictions |
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Other jurisdictions |
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