IVA on medication, veterinary and healthcare equipment 'too low', says EU
Friday, January 18, 2013 @ 11:28 AM
REDUCED-RATE value-added tax on certain medication, medical equipment and veterinary supplies is 'illegal', claims the European Commission. Medicines, healthcare products and materials that may be use to prevent, diagnose, treat, relieve or cure illnesses should attract IVA at the full rate of 21 per cent, and not the 'middle' rate of 10 per cent, according to an EU ruling from 2010.
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