Latest update: 11/03/2009 

- European Union - finance - taxes


Europe agrees to lower VAT on restaurants
No Flash warning
To take advantage of all the features on FRANCE24.COM, please click here to download the latest version of Flash Player.
European Union finance ministers have reached a deal that will see the value-added tax on certain services, including restaurants, reduced to below the minimum 15 percent.
Katherine SPENCER (video)

AFP - EU finance ministers reached a long-sought deal Tuesday to allow especially reduced sales, or value added, tax on certain services, including restaurants, the Portuguese finance minister said.
  
"There's an agreement, including on restaurants," Fernando Teixeira Dos Santos told several journalists as he left a meeting of EU finance ministers in Brussels.
  
Normally, EU countries cannot apply a VAT rate of less than 15 percent in order to avoid big price discrepancies across the EU single market, and allowing any exemptions requires unanimous backing from all member states.

Related Content
Close