This Content Was Last Updated on February 9, 2017 by Jessica Garbett

 

Both Luxembourg and Portugal have announced that they will be raising their respective standard rates of VAT from the beginning of 2015. Portugal will be raising it by 0.25% to 23.25% and Luxembourg by 2% to 17%. Even after the proposed increase Luxembourg will continue to hold the record for the lowest level of standard rated VAT in the EU for the foreseeable future with Hungary the highest at 27%. The effect will be to increase the average level of VAT in the EU by 0.08%.

For further details on EU VAT rates, along with other useful information, ACCA produces a helpful analysis of the 28 EU countries that includes details on:

  • what VAT is called in each member state
  • the EU country code
  • the standard rate of VAT
  • the form and type of the VAT registration number used in each member state
  • the common VAT filing period
  • details on government website details  in order to access further information
  • non-resident VAT threshold.

The EU VAT analysis is available to download now.

Article contributed by ACCA