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Vat News

Rajoy announces latest austerity measures in Spain

Madrid - As coal miners and other protesters converge on Madrid, Spain's Prime Minister announces the latest austerity measures, including a VAT increase.

UK food bills may rise by 20 percent if new EC VAT rules agreed

A white paper produced by the European Commission in Brussels suggests radical changes to the way value added tax is applied to purchases which, if agreed, could see the cost of food shopping increase by up to 20 percent.

Chocolate bars shrinking to keep profits up

Optimists may look at it as a measure which will help keep weight down but some UK residents will be upset to see their favourite chocolate bars have been reduced in size.

Restoration of Tax Exemption for Senior Citizens of the Philippines Sought

Senator Edgardo Angara has filed a bill seeking to amend the provisions of existing tax laws to exempt senior citizens from the value-added tax they pay when buying goods and availing of services.

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