Gov’t To Lower VAT On Dairy And Catering
- 14 Apr 2016 9:00 AM
The government proposes to reduce VAT on a wide range of products and services in the 2017 budget, Economy Minister Mihály Varga announced on Wednesday. The VAT on milk, eggs and poultry would fall from today’s 27% to 5%.
The rate for catering services will be trimmed to 18%, with plans to further reduce the tax to 5% in 2018.
VAT on internet services will also be cut to 18% from today’s 27%.
The Poultry Council welcomed the announcement, saying the lower VAT could lead to a Ft 35 billion shortfall in the budget.
Hoteliers said lower taxes will improve the competitive position of Hungary’s hotels, which would allow them to cut prices, retain staff and spend more on investments.
Source: Hungary Around the Clock
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MTI photo: Bruzák Noémi
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