TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

EU Minimum VAT rate to be extended

The European Council adopted on 12 December 2005 a directive extending until the end 2010 the minimum standard rate of value added tax at 15%.

The minimum rate had been due to expire on 31 December 2005. According to the Council statement, the extension is to provide a further period “long enough to cover the ongoing strategy to simplify and modernise current EU legislation on VAT”.