Tax & Accounting Blog

More EU Updates on VAT Changes

Indirect Tax, VAT-GST Management June 30, 2010

To continue updating you on VAT rate changes in the EU,Romania is the latest EU state along with Portugal, Spain, Greece, Finland, and the UK that has decided on increasing its VAT rate.  To comply with the conditions of the joint aid package from the International Monetary Fund, the European Commission, and the World Bank, effective July 1, 2010 the standard VAT rate will increase from 19% to 24%.
I trust that other EU Member States may follow in the near future.  I have my eye on the Czech Republic.  Do you think that there is a trend in increasing the VAT rates in the EU?  Do you think that the EU will increase the upper limit of 25% in the next 24 months?