February 2022 VAT Changes in Belgium
Belgium has announced a temporary VAT rate reduction to help taxpayers with for the rising energy prices.
From 1 March 2022 to 1 July 2022, there will be a temporary VAT rate reduction on electricity from 21% to 6%.
February 2022 VAT Changes in Bulgaria
The Bulgarian government has submitted a proposal for the application of a 0% VAT rate from 1 April 2022 for the below:
- Water, natural gas, central heating and electricity supplied for households;
- Basic food and beverages; and
- Medical products, medical devices and medical equipment.
February 2022 VAT Changes in Poland
Poland has announced a further reduction of their VAT rates in response to rising prices.
The below VAT rates will apply from 1 January 2022 to 31 July 2022:
- 8% on fuel;
- 5% on electricity;
- 5% on heat energy;
- 0% on certain basic foodstuffs;
- 0% on fertilizers; and
- 0% on gas.
February 2022 VAT Changes in Vietnam
Vietnam has announced a VAT rate reduction in 2022 for those goods and services that are subject to 10% VAT rate. The new temporary VAT rate will be 8%. The reduced VAT rate will be in place from 1 February to 31 December 2022. Exempt goods and services, or goods and services at the 5% VAT rate are not affected by this change.
The VAT reduction will not apply to the below:
- Information technology;
- Banking, insurance and other financial activities;
- Telecommunications;
- Real estate;
- Mining and the production of petroleum;
- Metal production; and
- Goods and services that are subject to special consumption tax.
International VAT Rate Round Up: January 2022
If you missed last month’s VAT rate announcements or VAT threshold changes, you can catch up now.
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