On 12 April 2016, the EU Parliament reportedly voted to adopt a resolution extending the minimum standard value added tax (VAT) rate of 15% to the end of 2018. Under EU VAT rules, individual Member States may not set their standard VAT rate lower than 15%, although reduced rates may apply for specified goods and services. The minimum rate was introduced in 1993 has part of a transitional VAT system and has been extended several times since then. The previous extension expired 31 December 2015. The resolution to extend the minimum rate must now be adopted by the Council of...