COVID-19 VAT cuts – suspect economics for exasperated businesses
- Oct 31, 2020 | Richard Asquith
Governments affection for VAT is blossoming during the COVID-19 crisis. Its immediacy – charged on every live transaction and remitted to state coffers monthly/quarterly – makes it the fiscal weapon of choice compared to plodding income or capital gains taxes. Germany is leading the charge with a wholesale cut to its VAT rate from 19% to 16% until the end of this year. Many other European and global countries will certainly follow as they look to prod the lockdown induced consumption-coma.
VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara