DATABASICS can help you stay on top of individual country’s requirements for reporting and recovery according to your company policy.
With DATABASICS you may have already made changes using the “Effective Date” feature, just to make sure your rates will be up-to-date, below is a list of changes to European rates:
2017 European VAT Rates
| Country | Rate Type | Old Rate | New Rate | Effective Date | Notes |
| Czech | Reduced | - - - | 15% | Jan. 1, 2017 | Restaurant Services re-categorization |
| Hunngary | Reduced | - - - | 18% | Jan. 1, 2017 | Restaurant Services re-categorization |
| Italy* | Standard | 22% | 22% | Jan. 1, 2017 | - - - |
| Italy* | Reduced | 10% | 10% | Jan. 1, 2017 | - - - |
| Romania | Standard | 20% | 19% | Jan. 1, 2017 | - - - |
*Please note that Italy’s planned rate increases have quietly been dropped.
Related Article: 10 REAL Questions to Ask When Choosing a Global Solution
Is your Expense Solution set up to support VAT reporting and recovery? Contact us for any questions or additional information at 1 (800) 599-0434 to review any requirements and available solutions.
DATABASICS provides cloud-based, next generation Expense Reporting, P-Card Management, Timesheet & Leave Management 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.
Connect with DATABASICS: LinkedIn, Twitter, and YouTube. DATABASICS is headquartered in Reston, VA.
