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European Commission report: Only two states increased VAT by 5% in the last decade - Greece and Cyprus

In what concerns the VAT increase in Romania, from 19 to 24%, the South-Eastern European state now leaves the club of the countries with VAT below the European average and joins the club of the highest VAT, according to a European Commission report on taxation among EU member states + Norway.

Moreover, the document goes to show that only Greece and Cyprus increased the VAT by 5% from 2000 until 2010, but none of them so abruptly between 2009 and 2010. The 5% increase in VAT will take the tax from 19% to 24% on July 1. The report addresses the 19% VAT in Romania, but the comparison is pretty obvious if one considers the increase to 24%. The European average VAT is 20%. The only states with a VAT higher than 24% are Denmark, Hungary and Sweden. During the last year, the VAT rose by 1% in The Czech republic and Finland, by 2% in Lithuania and Spain, by 4% in Greece and dropped 0.5% in Ireland. Between 2009 and 2010, no country increased the VAT by 5%, not even Greece, which put the VAT up first from 18 to 19% (2008-2009) and later to 23% (2009-2010).

EU: Highest top tax rate on personal income in Sweden, Belgium and the Netherlands

The top personal income tax rate5 in the EU27 increased in 2010, largely due to a 10-percentage point hike in the United Kingdom. The highest top rates on 2010 personal income are found in Sweden (56.4%), Belgium (53.7%) and the Netherlands (52.0%), and the lowest in Bulgaria (10.0%), the Czech Republic and Lithuania (both 15.0%). Between 2000 and 2010, the largest decreases were registered in Bulgaria (from 40.0% in 2000 to 10.0% in 2010), Romania (from 40.0% to 16.0%) and Slovakia (from 42.0% to 19.0%), all of which moved to flat rate systems, and the highest increases in the United Kingdom (from 40.0% to 50.0%) and Sweden (from 51.5% to 56.4%).

Corporate tax rates in the EU27 continued their declining trend in 2010.The highest statutory tax rates6 on 2010 corporate income are recorded in Malta (35.0%), France (34.4%) and Belgium (34.0%), and the lowest in Bulgaria and Cyprus (both 10.0%) and Ireland (12.5%). Between 2000 and 2010, the largest decreases were registered in Bulgaria (from 32.5% to 10.0%), Germany (from 51.6% to 29.8%), Cyprus (from 29.0% to 10.0%) and Greece (from 40.0% to 24.0%).

Standard rate of VAT ranged from 15% in Cyprus and Luxembourg to 25% in Denmark, Hungary

and Sweden In the EU27, the average standard VAT rate7 rose to 20.2% in 2010 from 19.8% in 2009. It was 19.2% in 2000. In 2010, the standard VAT rate varied from 15.0% in Cyprus and Luxembourg to 25.0% in Denmark, Hungary and Sweden.

Between 2000 and 2010, the VAT rate remained unchanged in 13 Member States, rose in 12 and fell only in Slovakia (from 23.0% in 2000 to 19.0% in 2010) and the Czech Republic (from 22.0% to 20.0%). The highest increases were registered in Greece (from 18.0% to 23.0%) and Cyprus (from 10.0% to 15.0%).

Sursa: http://www.actmedia.eu

Tags: highest between sweden cyprus greece report states increased european

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