French Finance Bill to confirm VAT rate rises and changes
- 15 September 2013 | Richard Asquith
The 2014 French Finance Bill has been announced this week, confirming a number of already announced French VAT rate changes, including:
- The standard French VAT rate is to rise from 19.6% to 20% on 1 January 2014. This was originally announced in November 2012. The average EU VAT rate is now over 21%.
- The French VAT rate applicable to restaurant food and related services will rise from 7% to 10%
- Electricity, gas and related domestic power will fall from 5.5% to 5% VAT
- Social housing will now be subject to the reduced 5% French VAT rate
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.