European VAT rises create compliance headaches
10 February 2012
Salman Shaheen - ITR
France, Cyprus and Croatia have become the latest European countries to hike VAT rates as taxpayers look on increasingly concerned.
On March 1, Croatia’s rate will rise from 23% to 25%, while Cyprus’s rate will increase two percentage points to 17%.
Giannos Ioannou, a tax consultant at Eurofast – Taxand in Cyprus, expects the cost of the VAT rise to be passed onto consumers.
“The...
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