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European VAT News

European VAT News – October 2024

By October 31, 2024No Comments

Netherlands

From 1 January 2026 the Dutch government has confirmed (via its 2025 Tax Plan) a VAT rate increase from 9% to 21% on the following supplies:

  • Cultural and sports services such as entrance to museums, concerts, gyms etc.
  • Import and delivery of works of art, collectors’ items and antiques.
  • Books, including e-books, newspapers and magazines.

Accommodation, including hotels, holiday homes and mobile homes.

Switzerland

The Swiss tax authorities are now proposing to increase the standard VAT rate in the country from 8.1% to 8.8%.

This proposal is being put forward to cover the pension deficit caused by a national referendum vote to increase state pensions.

Switzerland raised its standard VAT rate on 1 January 2024 from 7.7% to 8.1%.

UK

During September the UK unveiled a package of reforms that includes launching a consultation on how HMRC can support the introduction of electronic invoicing (e-invoicing) for business-to-government and business-to-business sales.

By introducing e-invoicing HMRC hopes to significantly reduce administrative tasks, improve cash flow, boost productivity, introduce automation, and reduce errors in tax returns, which should lead to cost savings for businesses and also help to close the £8.2 bn VAT Gap in the UK.

The consultation will gather feedback from businesses on how HMRC can support investment in and encourage the use of e-invoicing. The scoping and timing of the consultation will be announced during the October Autumn Budget announcements.

Ukraine

Ukraine is now proposing to end VAT exemptions on the import of low value goods into the country.

If accepted this will mean all imports regardless of value will be subject to VAT in the country.

The import VAT exemption allows imported goods of a low value to be imported free of VAT.

The above news was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: [email protected].