The Ministry of Finance (BMF) issued guidance to implement reductions to the rates of value added tax (VAT) provided as relief measures in response to the coronavirus (COVID-19) pandemic. The VAT standard rate is reduced to 16% and the VAT “reduced rate” is further reduced to 5% for the period 1 July 2020 to 31 December 2020.
Source: KPMG
Latest Posts in "Germany"
- German MOF Issues Second Guidance on Mandatory Domestic B2B E-Invoicing and Error Clarifications
- Federal Ministry of Finance Clarifies B2B E-Invoicing Validation and Mandatory Invoice Elements for 2025
- Second BMF Letter on E-Invoicing: Key Changes and Validation Duties for Businesses Explained
- ECJ Opinion Sheds Light on VAT for Ancillary Services in German Accommodation Sector
- Germany: Navigating NACE Code Changes for Foreign VAT Refunds in 2025–2026 Transition Period
