MwSt is the abbreviation for Mehrwertsteuer, which is also known as Umsatzsteuer (USt).  This is the equivalent to VAT in the UK.

At present, MwSt is 19% for most items in Germany, with some items such as basic foodstuffs and books being only 7%.  For some goods and services (eg. stamps) there is currently no MwSt.

The term “Mehrwertsteuer” was introduced in 1968, but the principles were first introduced as a form of stamp duty in 1916.

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This entry was posted on Tuesday, September 23rd, 2008 at 11:55 pm and is filed under Abbreviations, Tax. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.