WebThe VAT rate for the hospitality and tourism sector also decreased from 13.5% to 9%, for the period 1 November 2024 to 28 February 2024. The reduced rate was extended until 31 August 2024 under the cost of living supports announced in February 2024. WebJul 14, 2024 · As a consequence of the temporary reduction in the VAT rate from 20% to 5% in the hospitality sector, the flat rate percentages used for catering (including restaurants …
VAT: reduced rate for hospitality, holiday accommodation and ... - GOV.…
WebApr 12, 2024 · UAE: VAT standard rate of 5% (reduced VAT rate 0%).. Excise Tax rates: 100% for tobacco, tobacco products, electronic smoking devices and energy drinks; and 50% on carbonated and sweetened drinks.. KSA: VAT standard rate of 15% (reduced VAT rate 0%).. Real Estate Transaction tax (RETT) applicable at 5% (effective 4 October 2024).Excise … WebJul 15, 2024 · From 1 October 2024 the VAT rate applied to hospitality changes to 12.5%. This will require preparation not only by suppliers in those sectors, but by all organisations that can recover some VAT on employee expenses. It may also affect future holiday plans for individuals and could have wider repercussions for other sectors. oracle fidelity login
Introduction of a new reduced rate of VAT for hospitality, …
WebMar 25, 2024 · From April 2024 the VAT rate for hospitality and accommodation businesses will increase from 12.5% to 20%. During Covid-19, to assist businesses in the hospitality and accommodation sector the VAT rate was reduced to 5% in July 2024. It was subsequently increased to 12.5% in 1 October 2024. Things to consider: WebJul 15, 2024 · With the effect from 15 July 2024, the VAT rates on hospitality, hotel and holiday accommodation, and admission to certain attractions have been slashed from 20% to 5%.This cut is an important measure to make the leisure industry great again and to turn the consumer days out to what it was before coronavirus. WebSep 20, 2024 · In the summer of 2024, the government announced a temporary reduction of VAT to 5% on supplies relating to: Hospitality including restaurant meals, hot takeaway food and non-alcoholic drinks Hotel and holiday accommodation including fees for campsites and caravan pitches portugal economic overview