What is the VAT on Fuel?
Europe image by Christophe Fouquin from <a href='http://www.fotolia.com'>Fotolia.com</a>
The taxation of solid and liquid fuels is common throughout the world. In Europe, fuel is taxed according to each country's valued added tax (VAT) rates and regulations. However, separate fuel duty taxes may be also applied in the case of gasoline. Following are the current rates as of August, 2010.
The VAT tax rate for fuels in Greece is charged at the standard Greek VAT rate of 23 per cent.
The VAT tax rate on fuels in the United Kingdom is at the reduced UK VAT rate of 5 per cent for residential use and at the standard rate of 17.5 per cent for business use.
The VAT tax rate for fuels in Ireland is set at the reduced Irish VAT tax rate of 13.5 per cent.
The VAT tax rate on fuels in Spain is charged at the standard Spanish VAT rate of 18 per cent.
- Europe image by Christophe Fouquin from Fotolia.com