VAT Rate Adjustments in 2024
Since the beginning of 2024, several countries have implemented changes in their VAT rates, reflecting shifts in economic conditions and policy priorities. Let’s delve into a chronological summary of these changes across different countries.
VAT Rate Adjustments in 2024:
Country |
VAT Rate Adjustment |
Implementation Date |
Estonia |
Increase in standard rate to 22% |
January 1, 2024 |
Liechtenstein |
Standard VAT rate set at 8.1% |
January 1, 2024 |
The first reduced rate established at 2.6% |
January 1, 2024 |
|
The second reduced rate introduced at 3.8% |
January 1, 2024 |
|
Luxembourg |
The standard rate was raised to 17% |
January 1, 2024 |
Intermediate reduced rate at 14% |
January 1, 2024 |
|
The reduced rate is fixed at 8% |
January 1, 2024 |
|
Super-reduced rate at 3% |
January 1, 2024 |
|
Singapore |
The standard rate increased to 9% |
January 1, 2024 |
Sri Lanka |
The standard rate set at 18% |
January 1, 2024 |
Switzerland |
The standard VAT rate is maintained at 8.1% |
January 1, 2024 |
The first reduced rate held at 2.6% |
January 1, 2024 |
|
The second reduced rate retained at 3.8% |
January 1, 2024 |
|
Czech Republic |
A single reduced rate implemented at 12% |
January 1, 2024 |
Malaysia |
The standard sales tax reduced to 8% |
March 1, 2024 |
Reduced service tax rate of 6% for selected services |
March 1, 2024 |
|
Ecuador |
The standard rate increased to 15% |
April 1, 2024 |
Reduced rate for construction materials set at 5% |
April 1, 2024 |
Last updated 05.04.2024
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