- Colombia VAT Changes: Effective January 2025, Colombia will implement significant VAT changes, including taxing online games of chance at 19%, increasing the VAT on hybrid vehicles from 5% to 19%, and exempting hotel services in municipalities with populations under 200,000 from VAT entirely.
- Estonia VAT Rate Increase: Starting January 2025, Estonia will raise the VAT rate for accommodation services from 9% to 13% and for press publications from 5% to 9%, while completely phasing out the 5% VAT rate.
- Finland Proposed VAT Adjustments: Finland is proposing VAT rate changes set to take effect on January 1, 2025, including increasing the rate from 10% to 14% on items like books and medicines, while raising the rate from 14% to 25.5% on menstrual and incontinence products.
- Spain VAT Reporting Changes: On October 25, 2024, Spain published regulations updating VAT reporting forms to reflect new rates for basic food items, with a reduced VAT rate of 2% and a temporary 7.5% rate effective from October 1 to December 31, 2024.
- Implementation of New Forms: The updated Form 322 for periodic VAT returns and Form 390 for annual VAT reporting will be used to comply with the new rates and temporary equivalence surcharge rates, with the provisions taking effect on November 1, 2024.
Source Taxbackinternational
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