A VAT rate of 8% applies to most goods and services. A reduced rate of 2.5% applies to certain everyday consumer goods such as foodstuffs, non-alcoholic beverages, books, newspapers, magazines, medicines, but also to tickets for sports and cultural events….
Value-Added Tax – VAT Germany
In Germany, all entrepreneurs who are engaged and independently active in a trade, business or profession with the purpose of generating income, are liable to value-added-tax also known as the turnover tax (Umsatzsteuer). The following information on VAT is a…
EU VAT Changes 2015
There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.