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Germany Issues FAQs On Temporary VAT Cut

by Ulrika Lomas, Tax-News.com, Brussels

17 July 2020


On July 16, 2020, the German Ministry of Finance posted answers to frequently asked questions on its website with regards to the temporary value-added tax cut.

Introduced to stimulate the economy, the standard rate of VAT was cut from 19 to 16 percent for the period from July 1 to December 31, 2020. The reduced seven percent rate was also cut, to five percent, for the same period.

The FAQs provide guidance in cases where services or goods are delivered over a long period of time, such as construction services.

The FAQs also deal with contractual issues, down payments, orders placed with suppliers in other EU member states, and the tax rules for tobacco products, among other matters.

TAGS: Finance | tax | value added tax (VAT) | revenue guidance | law | Germany | construction | services

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