Slovenia and Luxembourg VAT updates

The fragile Slovenian government has dropped its plan for a 2% VAT rise on 1st May.

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8 April 2014

Slovenia drops May VAT rise plan

Whilst the country faces a yawning gap in its budget deficit (over 14% compared to the Euro currency 3% limit), the coalition partners threatened a break-up of the government over the weekend if the rise went ahead.  But it could easily change again...

Luxembourg losses on 2015 VAT changes grow

The Luxembourg government reconfirmed its plans to raise its standard VAT rate from 15% to 17% on 1 January 2015.  As you will recall from our last update, this is to compensate for the changes in the VAT rules on B2C electronic services which Luxembourg dominates.  However, the government confirmed that it had underestimated the level of revenue losses, and it has now extended to €800m per annum.  It is unlikely that the VAT rise will need to be increased further, but this does leave a big hole in the budget.

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