Germany to Reduce VAT Rates
Germany will temporarily reduce value-added tax rates, a June 9 KPMG post said. The measure, in effect July 1-Dec. 31, will reduce the standard VAT rate from 19% to 16% and the VAT “reduced rate” from 7% to 5%, the…
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post said. The reductions aim to help mitigate impacts of the COVID-19 pandemic.