The European Council adopted today a directive extending until the end 2010 the minimum standard rate of value added tax at 15% (14308/05 and 15225/05 ADD1).
The decision was taken by the General Affairs Council, without discussion.
The directive maintains the minimum standard rate of VAT applicable in EU member states currently in force, that was normally due to expire on 31 December 2005, for a further period long enough to cover the ongoing strategy to simplify and modernise current EU legislation on VAT.
The current minimum level of VAT is set at 15% by directive
77/388/EEC.
The standard rate of VAT is fixed by each member state as a percentage of the taxable amount and is the same for the supply of all goods and services.
Council of European Union
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