Demján: Closing Shops On Sundays Will Reduce Budget Revenue
- 21 Jan 2015 8:00 AM
New restrictions on Sunday shopping are expected to produce a 200 billion-250 billion forints (EUR 630m-780m) shortfall in budget revenue, the head of business association VOSZ said.
Speaking at a press conference detailing an initiative to call a referendum on the restrictions, Sándor Demján said the shortfall would be noticeable in revenue from VAT and payroll tax.
He added that retail sales generate five times as much budget revenue as industrial production. Any shortfall will have to be covered by new taxes, such as the new road toll and the tax on solar panels, he added.
Source www.hungarymatters.hu
Follow that link to sign-up for MTI’s twice-daily newsletter.
LATEST NEWS IN shopping