German VAT rates
BREAKING NEWS - German VAT rates
Angela Merkel, the german chancellor, has announced to introduce a temporary reduction of the German VAT rates from 19% to 16% (regular VAT rate) and from 7% to 5% (reduced rate), respectively.
These reduced VAT rates are expected to come into effect on July, 1st 2020. and will remain applicable until December, 31st 2020.
These measures are part of a huge plan aimed to reboost the German economy.
What will be the reaction of Germany's neighbor countries?