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Germany reduces VAT rates from 1 July 2020

By June 20, 2020July 10th, 2021No Comments

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: contact@fiscalsolutions.co.uk.