Common use of Tax Rates Clause in Contracts

Tax Rates. In the data pool tax rates for VAT (BTW) are stored in codes. The meaning of those codes depend on the target market where the products are sold. In the following table the meaning of these codes can be found for all the Benelux countries: TAX CATEGORY CODE VAT BELGIUM VAT LUXEMBOURG VAT NETHERLANDS ZERO 0% 0% 0% LOW 6% 3% 9% MEDIUM 12% 8% / HIGH / 14% 21% STANDARD 21% 17% / EXEMPT No tax No tax No tax If a product consists of more than one part and these parts have different categories, the Tax category with the highest Tax rate shall be used.