The Italian government recently announced that if certain budgetary targets are not met by 2020, it will implement a number of VAT rate increases.
This includes:
- an increase in the reduced rate from 10% to 12% from 1st January 2021
- an increase in the standard rate from 22% to 25% from 1st January 2021 and to 26.5% from 1st January 2022
