Last update: June 29, 2024
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March 31, 2024
- Uruguay
- End of the zero VAT rate on hotel-related services to resident tourists
April 1, 2024
- Ecuador
- VAT rate between 13% and 15% from April 1, 2024 and 5% VAT rate on local transfers of construction materials
- Poland
May 1, 2024
July 1, 2024
- Bulgaria
- End of 9% VAT rate on tourism
- Cyprus
- Zero VAT on specific goods ends
- Greece
- End of the COVID-19 temporary reduced rates
- However, the COVID temporary VAT rate of 13% on taxis and takeaway or delivery non-alcoholic beverages will now be permanent. VAT rate for served items will return to 24%.
- Lithuania
- Reducing the VAT rate for catering services and takeaway meals provided by restaurants, cafes, and similar establishments to 9%
- Vietnam
- End of the 2% VAT reduction (from 10 to 8%)
- But …. it may extend 2% VAT Reduction Policy Until End of 2024
August 31, 2024
- South Korea
- Temporary rate reduction for specified gasoline products extended to 20 percent from 25 percent until Aug. 31
- Temporary rate reduction for other specified fuel products extended to 30 percent from 37 percent until Aug. 31
September 1, 2024
- Finland
- Increase standard VAT rate from 24 to 25.5%
October 1, 2024
- Spain
- From October 1 to December 31, the VAT rate on basic food items will increase to 2%
- Thailand
- VAT rate increase from 7 to 10%
November 1, 2024
- Ireland
- End of the reduced VAT rate of 9% for gas and electricity
December 31, 2024
- Bulgaria
- End of 9% VAT rate on Restaurant services
- End of 0% VAT for Bread and Flour
- Kyrgyzstan
- South Korea
- Temporary rate reduction of 15 percent on individual consumption tax on power generation fuels extended to Dec. 31
- Spain
- VAT rate on basic food items will increase from 2% to reduced VAT rate
January 1, 2025
- Estonia
- Accommodation services and accommodation services with breakfast are taxed at 13% VAT rate (instead of the current 9%)
- VAT rate for press publications will rise from 5% to 9%
- Finland
- Increase Reduced VAT Rate to 14% from 2025. Items include books, pharmaceuticals and public transport, Excluded are newspapers and magazines.
- Indonesia
- Standard VAT rate increase from 11 to 12%
- Israel
- Standard VAT rate increase from 17 to 18%
- Portugal
- Until 31 December 2024, the reduced VAT rate (currently 6% in mainland Portugal, 5% in Madeira, and 4% in the Azores) will remain in force for the supply of electricity for consumption (excluding the fixed components of electricity supplies) in relation to contracted power not exceeding 6.90 kVA, for the portion of the supply not exceeding the following:
- 100 kWh per 30-day period; or
- 150 kWh per 30-day period when purchased for consumption by large families (i.e., households including five or more persons).
In addition, the reduced VAT rate will apply to the acquisition, delivery and installation, maintenance, and repair of machinery and other equipment intended exclusively or mainly for the capture and utilization of renewable energy (e.g., solar, wind, and geothermal energy).
- Until 31 December 2024, the reduced VAT rate (currently 6% in mainland Portugal, 5% in Madeira, and 4% in the Azores) will remain in force for the supply of electricity for consumption (excluding the fixed components of electricity supplies) in relation to contracted power not exceeding 6.90 kVA, for the portion of the supply not exceeding the following:
- Switzerland
- Introduction of 2.5% VAT rate for feminine hygiene products
March 31, 2025
- Croatia
- End of the The reduced rate of 5 percent on heating supplies
December 31, 2026
- South Korea
- Extension of the Tax Reductions on Eco-Friendly Vehicles Until 2026
During 2027
- Nigeria
- Tajikistan
- Draft – VAT rate reduction from 14 to 13%
Unknown
- Brazil
- Government aims for 26.5 percent average VAT rate
- Finland
- VAT rate on candies will increase from 14 to 25.5%
- Malawi
- VAT rise proposal from 16.5% to 17.5%
- Pakistan
- Sales tax rate increase from 13% to 15%.
- Switzerland
- VAT rise proposal from 8.1% to 8.5% in 2026
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