The Economic and Financial Affairs Council (Ecofin) reached an agreement on Tuesday (6) on the proposal to update the rules on value added tax (VAT) rates in the European Union ( HUH).
In an official statement, the council, which brings together the bloc’s finance ministers, highlighted that “the new rules reflect the current needs of member states and the current political objectives of the EU, which have changed considerably since the old rules were put into practice. ”.
The Council updated the list of goods and services for which reduced VAT rates are allowed, taking into account the digital transformation of the economy, and decided that all member states can apply preferential rates to certain products.
In addition, it was decided to phase out reduced VAT rates or exemptions on fossil fuels and other goods with an impact on greenhouse gas emissions by January 1, 2030.
Reference: CNN Brasil
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