Vertex CyberTax News

VAT Changes around the Globe

VAT in the United Arab Emirates

A representative from the UAE was reported to say that they will most likely be ready to introduce a VAT in early 2009 and that the infrastructure to do so will be in place late in 2008.

Reduced VAT Rates for Portugal

Portugal has approved a reduction in the standard VAT rate from 21% to 20% effective July 1, 2008. Madeira and the Azores are also expected to lower their standard rate from 15% to 14% although the European Commission may challenge the reduction because it falls below the 15% minimum standard rate for Member States.

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