Meridian’s latest update on the rates and thresholds in Europe reports that:

• Austria: The Austrian Government approved the introduction of a new reduced VAT rate of 13%. The new VAT rate of 13% will be introduced in two stages
• Romania: With effect from the 1st January 2016, the standard rate of VAT was reduced from 24% to 20%. In addition, the reduced VAT rate of 5% applies to the following items from the 1st January 2016
• Norway: With effect from 1 January 2016, the second reduced VAT rate in Norway has increased from 8% to 10%
• Italy: With effect from 1st January 2016, the VAT rate on electronically supplied newspapers and magazines has reduced from 22% to 4%
• Slovakia: The Slovak government has announced that with effect from the 1st January 2016, the VAT rate for food products has reduced from 20% to 10%. The reduced VAT rate of 10% will apply to certain food products such as bread milk, butter and fresh meat and fish.
• Intrastat Thresholds and Distance Selling Thresholds have also changed.

For further details see: Meridian Global Services