Hungary's Gov’t May Cut VAT On Transport

  • 4 Oct 2013 9:00 AM
Hungary's Gov’t May Cut VAT On Transport
The cabinet is contemplating a reduction in VAT on bus, tram and train fares before the elections, Népszabadság reports. State railway company MÁV and coach company Volán, the two biggest mass transit companies, are likely to bear most of the costs of any such price cut.

As lower VAT would be applied to all public transport companies, including Budapest’s BKV, the revenue shortfall from such a measure would amount to tens of billions of forints, Népszabadság estimates.

Source: Hungary Around the Clock

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