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EU Updates Guide On Member States' VAT Rates

by Ulrika Lomas, Tax-News.com, Brussels

15 January 2015

On January 13, 2015, the EU Taxation and Customs Union Directorate-General released an updated report that comprehensively charts the headline rates, concessionary rates, super-reduced rates (below five percent), and exceptional value-added tax (VAT) rates in place across the European Union's member states on all goods and services categories, current to January 1, 2015.

The document, "VAT Rates Applied in the Member States of the European Union," provides a thorough overview of the differing VAT regimes across the EU. As well as providing detail on positive rates, it comprehensively lists the application of zero rates and full exemptions in each member state.

The report will prove useful for international traders seeking to overcome the compliance hurdles of operating in the EU's single market, and will also inform businesses and individuals of the rates applicable to certain economic activities across the EU, with the competitive advantage of operating from each territory being immediately clear in table format.

Hungary, for instance, continues to have the highest VAT rate in Europe (27 percent) but levies its reduced five percent rate on a greater number of essential goods than many European states. After Luxembourg (which hiked its headline rate to 17 percent from January 1), Malta has the EU's second lowest VAT rate, at 18 percent, followed by Germany and Cyprus, which have 19 percent headline rates.

TAGS: compliance | VAT rates | tax | business | value added tax (VAT) | Hungary | Malta | Luxembourg | Cyprus | Germany | trade | services | VAT goods & services classification | Europe | Tax

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