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In response to the late-2000s recession, Labour Chancellor Alistair Darling announced in November 2008 that the standard rate of VAT would be reduced from 17.5% to 15% with effect from 1 December 2008. [16] [17] However, in December 2009, Darling announced that the standard rate of VAT would return to 17.5% with effect from 1 January 2010. [18 ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
1 April 1997 to 4 January 2011 - a selective higher rate of 17.5% on certain types of insurance arranged through certain suppliers of other goods and services, in line with VAT From 1 August 1998 - the higher rate was extended to all taxable travel insurance, regardless of the type of supplier
40% higher income tax rate frozen at £23,700; Personal tax allowances frozen; VAT on domestic fuel to be charged at 8% from April 1994, rising to 17.5% from April 1995; Stamp duty threshold increased; Mortgage relief reduced to 20%; Excise duty on petrol increased by 3%; Duty on packet of 20 cigarettes increased above rate of inflation
In the budget of April 1975 the higher rate was extended to a wide range of "luxury" goods. In the budget of April 1976 the 25 per cent higher rate was reduced to 12.5 per cent. On 18 June 1979, the higher rate was scrapped and VAT set at a single rate of 15 per cent.
The EU VAT asks where supply and consumption occurs, which determines which state collects VAT and at what rate. Each state must comply with EU VAT law, [56] which requires a minimum standard rate of 15% and one or two reduced rates not to be below 5%. Some EU members have a 0% VAT rate on certain items; these states agreed this as part of ...
Stealth taxes might be recognized as taxation but remain largely unnoticed, as with Value Added Tax (VAT) [9] in the UK between 1979 and 1991, during which period it rose from 8% to 15% (compensating for a large reduction in the higher and basic rates of income tax) and then to 17.5% (when the Poll Tax was replaced by a council tax), shifting ...
47.475% which includes 45% income tax and 5.5% solidarity surcharge based on the total tax bill for incomes above €256,304. The entry tax rate is 14% for incomes exceeding the basic annual threshold of €9,000. 19% (reduced rate of 7% applies e.g. on sales of certain foods, books and magazines, flowers and transports) [6] Georgia: 15% 18% ...