DATABASICS Time & Expense Blog

2016-2017 European VAT Rate Changes


The new year brings significant changes to the VAT rates in Europe – is your Expense Solution set up to support the most efficient VAT reporting and recovery?

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 upcoming changes in European rates.

2016-2017 European VAT Rate Changes:

Country Rate Type Old Rate New Rate Effective Date Notes
Austria Additional Reduced 10% 13% Jan. 1, 2016 Food and lodging items will remain at 10%
Italy Standard 22% 24% Jan. 1, 2017 - - -
Italy Reduced 10% 13% Jan. 1, 2017 - - -
Poland* Standard 23% 22% Jan. 1, 2016 - - -
Romania Standard 24% 20% Jan. 1, 2016 - - -
Romania Standard 20% 19% Jan. 1, 2017 Proposed change

*Please note that Poland has quietly dropped its plan to cut its standard rate from 22% to 23% in the new year.

As the world constantly changes, both political and economic events can prompt VAT and other consumption tax changes, with DATABASICS you can stay on top of individual country’s requirements for reporting and recovery according to your company policy.

Related Article: A Guide To Global Tax Management: How To Simplify Complex Challenges

Also, if you’re not currently taking advantage of DATABASICS for VAT Recoverycontact us for any questions or additional information at 1(800) 599-0434 to review any requirements and available solutions.

New Call-to-action

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: LinkedInTwitter, and YouTube. DATABASICS is headquartered in Reston, VA.

« 2015-2016 European VAT Rate Changes Sign #6 You Need An Expense Reporting Makeover »