Items eligible for the reduced 8% tax rate Food items subject to the reduced tax rate: What is taxed at 8% and 10%? Impact of reduced tax rates on tax returns How long will the reduced tax rate of 8% last? Items eligible for the reduced 8% tax rate As mentioned in the introducti...
Every company selling goods and services to European customers needs to collect value-added tax (VAT), even if their business is not established in Europe. As all European countries have different VAT rules and rates, staying compliant can be challenging. The European Commission has made an effor...
A VAT number allows tax authorities in the EU to track the movement of goods and associated tax liabilities on trading businesses. Businesses require a valid VAT tax number if they move goods to and from the EU. They need to produce their VAT registration number even when applicable VAT is ...
It is considered an indirect sales tax that is applied to certain goods and services. When consumers purchase these products, they have to pay the sales price of the products plus the GST. In some countries, this type of tax is also referred to as Value-Added Tax (VAT), even though the...
When it is cheaper to fly from London to Morocco, than to take a train from London to Manchester – then we have a problem. These artificially low fares are only possible thanks to tax and VAT not being charged on aviation fuel, a “subsidy” which saves the industry billions of pounds...
In Spain, regional governments have been rewarding such initiatives as electric or sustainable vehicle purchases and energy-efficient home improvements with tax deductions. While it is the most common reason for tax deductions, there are other deductions. Also, regional governments can improve on or ...
In addition, travelers buying duty-free at the airport can avoid the value-added tax (also known as VAT, a local sales tax that's most common in Europe). Depending on the country, VAT ranges from as little as 5% up to a hefty 25%. ...
This box has to be completed only by taxpayers who are taxed in Spain jointly by the Central Spanish Tax Authorities and the Provincial Councils. Result of annual adjustment. 68 Editable field VAT result (66-67+68) 69 66-67+68 Deductible VAT (only applicable to corrective returns): Res...
There’s no sales threshold, so every foreign business is expected to register for VAT, then collect and remit taxes according to the local guidelines. France At the moment, large digital companies pay less than 10% tax in the EU, whereas traditional businesses pay an effective rate above 23...
A value-added tax (VAT) is a consumption tax that is levied at every stage of production for a good or service at which value has been added. Every business in the production process receives a VAT tax credit for the VAT that has been paid except for the final consumer, who pays the...