Decrease in VAT
From 1 July 2020 the tax reduction of the VAT comes into force. This means a six-month (until 31 December 2020) decrease in VAT from 19 to 16 per cent, and from 7 to 5 per cent. This measure applies to all supplies of goods and services, as well as benefits in kind. Companies should inform themselves about the implementation. Private persons and organizations not entitled to deduct VAT should consider ways to benefit from the reduction as soon as possible. If you have any further questions about the changeover and what else needs to be considered, please do not hesitate to contact us.