June Rate Changes
Israel: Effective 2 June the standard rate will increase from 17% to 18%. The change will go into effect at midnight on Saturday rather than on Friday as originally planned due to the Sabbath.
The following are some of the important changes that have been announced for the coming months.
Montenegro: The government has officially proposed raising the VAT from 17% to 19%. No effective date has been given for the change.
Slovenia: The Government of Slovenia will increase the standard and reduced VAT rates from 20% to 22%, and 8.5% to 9.5% on 1 July 2013.
China’s State Council has announced the expansion of the Pilot VAT Program. On 1 August 2013, the Pilot Program, which was previously limited to 12 regions, will go nationwide. The Pilot Program was implemented last year beginning with Shanghai and followed by 11 more provinces and municipalities including Beijing and Tianjin. Along with the geographic expansion, the program will also be expanded to include the film, radio, and television industries.
Croatia will become the 28th member state of the European Union this summer. All 27 Member States, including most recently Germany, have now ratified Croatia’s Accession Treaty and Croatia’s membership in the European Union will be formalized as of 1 July 2013.