Slovenia 2% VAT rate increase July 2013

9 May 2013 Update. As Slovenia comes under close scrutiny for its disproportionately large financial services sector, with comparisons to troubled Cyprus being made, the government has indicated that it is planning a 2% VAT rate rise to 22% from 1 July 2013.  The reduced VAT rate will also rise from 8.5% to 9.5%.

The government is also planning a range of other tax rises and privitisations to help fund a bail out of banks.

The Slovenian VAT rate is currently 20%, which was set in 2002.  Many other EU member states have been forced into VAT rises in the past four years since the start of the credit crunch and soverign debt crisis.

Cyprus proposed a 2% VAT rise to 19% by 2014.  The average EU VAT rate is now over 21%.

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