The Prime Minister announced in his speech on 10 of April 2013 that Luxembourg intends to increase the current standard VAT rate of 15% as from 2015. Which means no increase of VAT this and next calendar year. It was also indicated that the standard VAT rate would remain the lowest in Europe. This would mean that the rate might increase from 15% to 18% at most, as Cyprus and Malta currently have the second lowest VAT rate within the EU of 18%.
Tag: Cyprus
Cyprus – VAT rate increase to 18% as from 14 of January 2013 and to 19% as from 13 of January 2014
The standard rate will increase from 17% to 18% for the period 14 January 2013 to 12 January 2014. From 13 of January 2014 the standard rate will increase to 19% at which point the 8% reduced rate will increase to 9%. The current reduced rates of 5% and 0% remain unchanged.
Michaela Merz 