News
VAT Rate to revert back to 23%.
Library of Knowledge No. 47
Re: Standard Rate Reverts to 23% from 1st March 2021.
The standard rate of VAT will return to 23% from 1st March 2021, having been temporarily reduced in response to the COVID-19 pandemic.
As part of the Government’s July Stimulus Package, the standard rate of VAT was reduced from 23% to 21% on September 1, 2020. The rate reduction was due to remain in force until February 28, 2021.
A reminder to all businesses to charge VAT at 23% from next Monday 1st March 2021.
Re: Hospitality Sector to Remain at 9% until 31st December 2021.
Reminder to all that the temporary reduced VAT rate of 9% for the hospitality sector will continue until the end of 2021.
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