International VAT Rate cuts to Support Entrepreneurship within Coronavirus Pandemic Context
International VAT Rate cuts to Support Entrepreneurship within Coronavirus Pandemic Context

Summary/Abstract: Given that 2020 was completely different to what we used to know, and also a particularly difficult year due to SARS-Cov-2 pandemic and to the restrictions imposed by all states worldwide in order to address such pandemic by limiting movement freedom or people and by enacting quarantine measures in many countries, most businesses and companies, irrespective of their field of activity, had losses and a decrease of business activities. In order to support entrepreneurship in hospitality industry (HoReCa) and in other industries as well, many states enacted certain temporary measures to reduce VAT rates, either for standard tax and reduced tax. Thus, governmental authorities seek to stimulate businesses like HoReCa through VAT reduction, as such businesses were among the most seriously impacted. Moreover, there is an international trending to eliminate or introduce zero-VAT rate for the sale of e-books and other electronic publications.

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