“The increase of the rate of VAT in Europe will be notable not only for businessmen, but also for simple citizens of those countries where increase of VAT rate is planned. Everything becomes more expensive, including journey, residing, food, hotel and restaurant business. Nevertheless, consciously going on such step, the Governments of the countries solve at the expense of additional receipts in the budget or to reduce a state debt (for example, Czechia) or to create stationary economy and to avoid a default in case of unforeseen crisis.
It is necessary to notice that the increase passes in those countries which last year had problems in economy and were in crisis. It is necessary for this reason more carefully make our decision when we choice any jurisdiction for business”.
On the basis: http://www.intax-info.com/
Irina Lomakina ( Director of Moscow office “Honest and Bright Ltd”)
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