International Internet Magazine. Baltic States news & analytics
Wednesday, 03.09.2014, 05:12
Latvia and Lithuania have EU's sixth highest VAT rate
Latvia's base VAT rate is 21% as of March 11. Compared to last year, six EU countries have raised their VAT rates, while Latvia is the only country to have reduced its VAT rate.
The highest VAT rate is in Hungary – 27%, followed by Denmark and Sweden – 25%.
The third highest VAT rate is in Romania and Finland – 24%. Ireland, Greece, Poland and Portugal have 23% VAT rates.
Similar to Latvia, Belgium, the Czech Republic, Spain, Lithuania and the Netherlands also have a 21% VAT rate.
The lowest VAT rate is in Luxembourg – 15%, Cyprus and Malta have the second lowest – 18%, while Germany's VAT rate is at 19%.
There are currently 11 different VAT rates in the EU.