Standard VAT rates for WWTS territories This table provides an overview of statutory VAT rates. In instances where a territory has a consumption tax similar to a VAT, that tax rate is provided. See the territory summaries for more detailed information (e.g. exempt items, zero-rated items, items subject to a reduced rate, alternative schemes).

Look up 2021 international VAT and GST rates. Get information for standard, reduced and zero rates for each country. Get up to date VAT news.

Jan 7, 2021 · The EU’s average standard VAT rate is 21 percent, six percentage-points higher than the minimum standard VAT rate required by EU regulation. Several countries implemented temporary VAT rate changes due to COVID-19.

Feb 3, 2024 · As of July 1, 2021, changes were introduced to the way that VAT is charged on online sales, whether consumers buy from traders within or outside the European Union: Prior to these changes, goods imported into the European Union valued at less than €22 by non-EU companies were exempt from VAT.

Value Added Tax (VAT) is a consumption tax that is applied to nearly all goods and services that are bought and sold for use or consumption in the EU. The EU has standard rules on VAT, but …

Jan 6, 2021 · VAT is imposed in around 170 countries, whilst the US remains the only major economy with a turnover tax - 'sales and use tax'. They are both complex in parts, but in very different ways. Learn about the major variations, and how to stay compliant across both.

Jul 1, 2021 · Learn if you should charge taxes and report your sales to the EU. Summarized below are the most important tax rules for ecommerce in 2021. What is VAT? Consumption tax added to goods and services in almost all countries. VAT is added to all levels of the production and distribution chain.

Following the recent fiscalization reform (implemented from 1 January 2021), the VAT return must be automatically generated by the tax authorities based on the information provided in the sale and purchase ledgers.

As of 1 July 2021, new VAT rules on cross-border business-to-consumer (B2C) e-commerce are in place. The aim is to reduce barriers to cross-border online sales and address the challenges of distance sales and importing low-value consignments.

Jan 24, 2025 · Hungary had the highest standard VAT tax rate in the European Union in 2021, at 27 percent, with Croatia, Sweden and Denmark also having relatively high VAT tax rates of 25 percent.