Provision of food, prepared meals, and sweets (excluding beverages) by restaurants, cafeterias, and similar establishments (excluding entertainment centers) for on- or off-site consumption. 6% “Super reduced rate” – certain goods and services Certain pharmaceutical, health and medical supplies: Many...
These zero-rated supplies will be determined based on specific conditions and procedures that the Regulations will outline. The following are considered to be zero-rated supplies: Supply and importation of foodstuffs (based on FECC (Financial and Economic Cooperation Committee)-approved list) Oil, ...
When you make a purchase, the VAT you pay is calculated based on the value added at that stage of production or distribution. For example, let’s say a farmer grows wheat, a baker makes bread from the wheat, and a grocer sells the bread. VAT is charged at each stage – on the whea...
0% – the rate applied to exports, international passenger transport, and zero-rated supplies (such as supplies sent to EPZs, diplomats, and governments) Note:There is a 3% turnover tax on businesses below the VAT registration threshold, between KES 100,000 and 500,000. ...
Once all the information is submitted, the companies will receive a fiscal registration number. This applies also for companies that manage intra-community supplies in Germany. Our lawyers are able to assist with additional information on the requirements set by theFederal Ministry of Finance. ...
Correcting errors for supplies that straddle the change in rate If, after 31 December 2024, an event occurs that requires a correction to the tax base and the VAT on the supply of goods or services for which the tax became chargeable before and after that date, the VAT rate applicable at...
Zero Rate [0%] A tax rate of 0% is applied on goods that are agricultural supplies or residential lettings. Services that include road and rail transport, financial services, money lending, retirement and medical benefits, and international support are zero-rated. Exempt Exempt is provided in ...
Information in this article is based on the Value Added Tax Act 1994, in particular Schedule 8 ( Group 12), which deals with zero-rated supplies of goods and services. The current UK VAT rate is 20%. VAT relief: We have to charge VAT on everything except as follows: book sales; we...
When you own a business in the Netherlands, you also have to pay VAT on your purchases. Think of office supplies, necessary stock items, a car, and various forms of equipment. You can therefore offset this input tax with the VAT that you have charged your customer. In short, VAT can ...
9%ReducedFoodstuffs; pharmaceutical products; medical equipment for disabled persons; hotel accommodation; water supplies; some beer; soft drinks; cut flowers and plants for food production; some agricultural supplies; some goods and services for consumption on-board transportation. ...