Could VAT hit 20% next year?
by Liam
According to this article, VAT could rise to 20% next year. Will any government be brave enough to double the already planned 2.5% increase scheduled for January to take VAT back up from 15% to 17.5%?
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I recall that vat was put up from 15% to 17.5% to cover the loss of funding caused by non-collection of the (not) much loved Community Charge, however we are still lower than France and the Netherlands. Still haven’t figured out yet where the “value” got “added” to this tax…
John Airey said at November 17th, 2009 at 4:25 pm