Further Extension of Reduced VAT Rates

MPG would like to share our latest update about Further Extension of Reduced VAT Rates On August 25th, 2020, the cabinet passed a draft bill to extend the current reduced rate of 7% VAT for another year. The statutory standard rate of VAT is 10%, but successive Royal Decrees have reduced the rate to 7%. Once the draft bill is enacted, the reduced rate will take effect from October 1st, 2020 until September 30, 2021, unless further extended by the government.

Please read the full update HERE.