The August edition of our International VAT Rate Round Up highlights the latest updates from Estonia, Greece, and Vietnam.
Estonia
The new government has agreed on a number of tax measures.
One of these measures includes the announcement that from 1 July 2025, the VAT rate shall be further increased from 22% to 24%.
Greece
In a press release from 20 June 2024, the Greek Ministry of National Economy and Finance announced that the 13% reduced VAT rate on taxis becomes permanent from 1 July 2024.
According to the previous regulation, the application of the reduced rate was temporary for taxis and should have expired on 30 June 2024.
The 13% VAT rate for the rest of the public transport became permanent earlier this year (from 1 January 2024).
The public transport covers train, metro and tram tickets, city and intercity buses, air and ferry tickets, as well as transport by a combination of road, air and sea means.
Vietnam
The Vietnamese Government approved an extension of the 8% VAT rate until the end of 2024.
On the 30 June 2024, the Government issued Decree No. 72/2024/ND-CP extending the application of the 8% VAT rate for the period of 1 July 2024 to 31 December 2024.
The following groups of goods and services are excluded from the reduction:
- Telecommunications;
- Financial activities;
- Banking;
- Securities;
- Insurance;
- Real estate trading;
- Metals and products from prefabricated metals;
- Mining products (excluding coal mining);
- Coke and refined petroleum; and
- Chemical products.
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International VAT Rate Round Up: July 2024
If you missed out on our July VAT rate announcements of VAT threshold changes, you can catch up now.
Authors
Lisa Dowling
Specialising in International VAT Compliance solutions, Lisa brings a wealth of knowledge and insight in her dealings with a host of international clients ranging from start-ups through to multinationals. With 21 years VAT experience behind her, Lisa has managed VAT compliance issues and solutions globally for for over 11 years. Fintua have 12,000 + corporate clients in over 109 countries and many of these are members of the Fortune 500.
