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"The Council of the EU has approved amendments to the Single Value Added Tax (VAT) Directive allowing member states to temporarily exempt coronavirus vaccines, COVID-19 tests and other goods required for vaccination until 31 December 2022," it was reported.
EU countries may also use reduced VAT rates for these goods if they make such a decision, the Council clarified.
The amendments were adopted on 1 December and they will come into force the day after publication in the Official Journal of the European Union, as follows from the document. The version of the Directive of 1 December has now been published in the EU legal framework.
The amount of VAT in the EU is set separately by each country, but the rate must not be lower than 15%. Exceptions are taxes on goods and services, a list of which is drawn up at EU level. In this case, the tax can be reduced to 5%.
The European Union has already signed pre-order contracts for about 1.5 billion doses of vaccines with six Western companies: AstraZeneca, Johnson & Johnson, Sanofi - GSK, CureVac, BioNTech - Pfizer, and Moderna. "A diversified vaccine portfolio guarantees access to vaccines in Europe once the vaccines have been confirmed as safe and effective," the European Commission said.
source: ec.europa.eu
EU countries may also use reduced VAT rates for these goods if they make such a decision, the Council clarified.
The amendments were adopted on 1 December and they will come into force the day after publication in the Official Journal of the European Union, as follows from the document. The version of the Directive of 1 December has now been published in the EU legal framework.
The amount of VAT in the EU is set separately by each country, but the rate must not be lower than 15%. Exceptions are taxes on goods and services, a list of which is drawn up at EU level. In this case, the tax can be reduced to 5%.
The European Union has already signed pre-order contracts for about 1.5 billion doses of vaccines with six Western companies: AstraZeneca, Johnson & Johnson, Sanofi - GSK, CureVac, BioNTech - Pfizer, and Moderna. "A diversified vaccine portfolio guarantees access to vaccines in Europe once the vaccines have been confirmed as safe and effective," the European Commission said.
source: ec.europa.eu
