Tax Rate Changes

Read about recent and upcoming tax rate changes.

Implemented

The following sections list recently implemented rate changes:

July 2023

  • July 10th 2023: Turkish VAT rate changed from 18% to 20%.

January 2024

The following changes were made in January 2024:

  • Swiss rate increased from 7.7% to 8.1%. The reduced rate for e-books increased from 2.5% to 2.6%. These changes apply to Liechtenstein as well.
  • Estonia's rate increased to 22% .
  • Luxembourg's rate reverted back to 17% after a temporary 1% reduction in 2023.
  • Singapore's GST rate increased from 8% to 9%.

March 2024

  • Malaysia's rate rose from 6% to 8%.

Upcoming

The following lists the changes that are planned in the near future:

  • May 1st 2024: Laos rate will change from 7% to 10%.
  • October 1st 2024: Thailand will revert to 7% from 10%.
  • January 1st 2025: Indonesia's rate is due to increase from 11% to 12% no later than January 1st 2025.