VAT Rate down to 21% From January 2010

Calendar December 9, 2009 | Posted by Money Guide

Budget 2010 -
The increase in VAT at the last budget is being reversed from Jan 2010

The standard VAT rate will go down from 21.5 per cent to 21 per cent.

The standard rate of VAT will be reduced from 21.5 to 21 per cent with effect from 1 January 2010. This decrease will apply to all goods and services which are currently subject to VAT at 21.5 per cent

Category Categories: Budget 2009, Budget 2010, Charges and Fees, Taxes, VAT

2 Comments

  1. Wallace Barton says:
    December 9, 2009 at 20:45

    I am buying a new car on Jan 03,2010.
    The price pre Vat is E24,950
    What will the new price be On Jan 01,2010. Vat @ 21%.
    Will I get the car at the reduced price on Jan 03,2010.

    Thank you

    Wallace.

    • Moneymate says:
      December 9, 2009 at 21:19

      Walace – Yes as the post said – the VAT change is effective from Jan 01 2010. Check with your dealer that they will be charging the new VAT rate (should be 21% of 24950 = 5239.50)