2012 European and International VAT rate increases |
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30 December 2012 update Below is a summary of major Value Added Tax rises in 2012. The information is provided by TMF Group’s global offices, and reviewed on a monthly basis. You can also see all major 2011 European and International VAT and GST rate increases here. For enquiries about VAT rates, please contact: richard.asquith@tmf-group.com European VAT increases in 2012 and beyond You can review all current European VAT rates here.
Curaçao – VAT raised from 5% to 6% January 2012 Cyrpus raises VAT again by 2% to 19% by 2014 Latvia: to reduce VAT rate from 22% to 21% in July 2012 Maderia ( Netherlands: proposes raising VAT rate 2% to 21% Norway - cuts VAT on food increased from 14% to 15% Portugal; raised VAT on restaurants to 23% from the start of 2012 Serbia to raise VAT 2% Oct 2012 Spain: plans to raise VAT 3% to 21% International VAT rises in 2012 onwards Gambia - to introduce VAT in 2013 India - delays 2013 GST regime to replace VAT Isreal - increases VAT 1% in September 2012 Japan - to double Consumption Tax to 10% by 2014 Lebanon - to increase VAT from 10% to 11% in 2012 Mali - introduces VAT at 5% from 2012
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