Are you ready for the updated European VAT rates? Easily manage European VAT rate changes with DATABASICS. As the world constantly changes, both political and economic events can prompt VAT and other consumption tax changes.
DATABASICS allows you to prepare for VAT changes in advance using the "Effective Date" of rates as associated with Expense Types. The table below lists recent and upcoming changes for Austria, Greece, Poland, and Romania. Please feel free to contact us for any questions or additional information.
| Country | Rate Type | Old Rate | New Rate | Effective Date | Notes |
| Austria | Reduced | 10% | 13% | Jan. 1, 2016 | - - - |
| Greece | All | 26% | 13% | Jul. 20, 2015 | Significant reclassification of all goods & services |
| Greece | 2nd Reduced | 6.5% | 6% | Jul. 20, 2015 | - - - |
| Poland | Standard | 23% | 22% | Jan. 1, 2016 | - - - |
| Romania | Standard | 24% | 20% | Jan. 1, 2016 | - - - |
Also, if you're not currently taking advantage of DATABASICS for VAT Recovery, make sure to reach out to your DATABASICS point of contact to review any requirements and available solutions.
DATABASICS provides cloud-based, next-generation Expense Reporting, P-Card Management, Timesheet & Leave Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.
DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.
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