January 2015: VAT Rate Changes


VAT rates have changed again for 2015 in some of the 150 VAT countries…

LUXUMBOURG: This nation is one of the 28 member countries of the European community. For 2015, their standard Value Added Tax rate will increase from 15% to 17%.

ICELAND:  Iceland will reduce their standard VAT rate from 25.5% to 24% this year.

ITALY:  This Mediterranean country will be increasing their standard VAT rates incrementally over the next few years with the goal of 25.5% in 2018. Coming into effect soon there will be increases…

  • from 22% to 24% in 2016
  • from 24% to 25% in 2017
  • from 25% to 25.5% in 2018

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