Food inflation in the eurozone was at 10.8% in August, leading many governments to use VAT as a tool to combat rising prices. Here are some of the changes made to VAT rates and rules in September:
– Bulgaria: VAT-registered businesses must now report on cash holdings and specific receivables.
– Czech Republic: The 10% and 15% VAT rates will be merged into a single rate of 12% from January 2024.
– Cyprus: The temporary reduced VAT rates of 5% and 19% on certain essential goods will be extended for six months.
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Source Innovate Tax
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