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…