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Curaçao – To increase VAT from 5% to 6% from January 2012
Cyprus – Announce budget based on increased VAT rate
Czech Republic – Approves plan to raise reduced VAT rate on food, drugs and public transport to 14%
Europe – Commission to adopt proposal for Financial Transaction Tax
Greece – Renews talk of standard VAT rate cut
Hungary – VAT rate to be increased to 27%
Hungary – Excise rates also to increase from November 2011
Israel – Extends requirement for provision of electronic data filing to all companies from 2012
Italy – VAT rate increased to 21% Jamaica To cut turnover tax from 17% to 12.5% from January 2012
Portugal – Still discussing an increase in the reduced and intermediate VAT rates with IMF
South Africa – To introduce more stringent procedures for VAT registration
South Africa – May raise VAT to fund a compulsory health insurance plan
Sweden – To reduce VAT on restaurant and catering services to 12% from 25%
Taiwan – To allow VAT refund to Belgian Business UK IFS calls to extend VAT to financial services
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