Big news! Following Germany, these two countries are also going to lower their VAT rates

According to foreign media reports, British Prime Minister Johnson's office said that Johnson will announce the latest "de-lockdown" plan on June 23, and will officially let the UK enter the third phase of de-lockdown on July 4 to fully restart the economy.

The report further pointed out that although British stores and shopping malls have been fully opened, their turnover is still only about 40% of the usual level. For this reason, the British government is still planning a tax cut, and Chancellor of the Exchequer Sunak is likely to announce a reduction in value-added tax (VAT) from the current 20% to 17% or even 15% .

According to multiple British media reports, in order to stimulate economic recovery, Sunak plans to announce early next month that he will reduce VAT and business tax!