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Fuelman » Today, 1:14 pm » wrote: ↑

Today, 1:14 pm

The rest of the story:

In addition, Mexico has a value-added tax (IVA) on most sales transactions, including sales of foreign products. The IVA rate is 16 percent for all of Mexico. Basic products, such as food and drugs, and some services, are exempt from the IVA. A special tax on production and services (IEPS) is assessed on the importation of alcoholic beverages, cigarettes and cigars. In 2013, IEPS was expanded to include a tax on soda, high calorie foods, and junk foods. This tax may vary from 25 to 160 percent depending on the product.

The EU countries with the highest standard VAT rates are Hungary (27 percent), Finland(25.5 percent) and Croatia, Denmark, and Sweden (all at 25 percent). Luxembourglevies the lowest standard VAT rate at 17 percent, followed by Malta (18 percent) and Cyprus, Germany, and Romania (all at 19 percent). The EU’s average standard VAT rate is 21.8 percent, nearly seven percentage points higher than the minimum standard VAT rate required by EU regulation.

Among the eight major European countries that are not part of the European Union—Georgia, Iceland, Moldova, Norway, Switzerland, Turkey, Ukraine, and the United Kingdom—only Switzerland levies a standard VAT rate below the EU minimum at a rate of 8.1 percent. In comparison, in the United States, combined state and local sales tax rates averaged only 7.5 percent in 2024.

https://taxfoundation.org/data/all/eu/v ... es-europe/