excise duties

Governments around the world are increasingly turning to indirect taxation to stimulate their economies, according to EY.

A new report from the accountancy giant shows that the rates of VAT and similar sales taxes have risen year-on-year in the aftermath of the global financial crisis. The average standard rate has climbed in EU member states from 19.5% in 2008 to a high of 21.6%, with even low-rate countries like Luxembourg upping their base.