The German tax office has today announced the following VAT rate reductions, which will be implemented for the period of 1 July 2020 to 31 December 2020:
The German tax office has today announced the following VAT rate reductions, which will be implemented for the period of 1 July 2020 to 31 December 2020:
- Standard VAT rate – reduced to 16% from 19%
- Reduced VAT rate – reduced to 5% from 7%
It is hoped that these reductions will help boost the German economy as the country comes out of lockdown.
The above information was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: [email protected].
