VAT Rate by Country Guide - Do you Know Where It's Highest? (2024)

FAQs

VAT Rate by Country Guide - Do you Know Where It's Highest? ›

What country has the highest VAT rate? The highest standard VAT (Value Added Tax) rate in the world is 27% in Hungary. Some other countries, such as Sweden, have a standard VAT rate of 25%.

The EU countries with the highest standard VAT rates are Hungary (27 percent), Croatia, Denmark, and Sweden (all at 25 percent). Luxembourg levies the lowest standard VAT rate at 17 percent, followed by Malta (18 percent), Cyprus, Germany, and Romania (all at 19 percent).

Which Country Has the Highest VAT Refund? Hungary has the highest VAT refund at 27%.

The long-troubled West African country, Ivory Coast, has the highest income tax rate in the world. People living there are giving away a whopping 60% of their income to the government.

Finally, let's look at sales tax rates. The highest rates are found in Bhutan, with rates up to 50%. Next is Hungary, which has a standard rate of 27%. In third place is a logjam of Croatia, Denmark, Norway, and Sweden, all with standard rates of 25%.

Actual rates applied vary between EU countries and between certain types of products. In addition, certain EU countries have retained other rates for specific products. The most reliable source of information on current VAT rates for a specified product in a particular EU country is that country's VAT authority .

VAT, or value added tax, is an indirect tax that is levied on most products and services sold in the European Union. VAT rates applied in the EU vary from country to country, but are generally between 15 and 27%.

VAT Standard rate

The standard VAT (GST) rate in Canada in 2024 is 5%. Goods and Services Tax is set at a country level and it is 5%. Canada consists of 10 provinces. Some provinces have also PST (provincial sales tax) or RST.

What does VAT stand for? ›

VAT (Value Added Tax) is a tax added to most products and services sold by VAT -registered businesses.

"Qatar's economic prosperity and modern outlook offer significant advantages," added Nikita Sherbina from AIScreen. "The absence of sales tax, combined with its strong healthcare and arts scene, make it a country worth considering for American immigrants."

The general VAT rate is 5% and applies to most goods and services, with some goods and services subject to a 0% rate or an exemption from VAT (subject to specific conditions being met).

Luxembourg has currently the lowest VAT rate with a VAT rate of 17%. Each EU member state decides on the percentage of VAT (Value added tax) tax on the of goods and services.

In Germany the amount paid for merchandise includes 19 % value added tax (VAT). The VAT can be refunded if the merchandise is purchased and exported by a customer whose residence is outside the European Union.