Internet VAT Rate Cut Would Reduce Budget Revenue HUF 12-13BN
- 12 Apr 2016 9:00 AM
A reduction in the VAT rate on internet service from 27% to 18% will reduce budget revenue by an annual 12-13 billion forints (EUR 38-42m), business daily Világgazdaság said, quoting calculations by the economy ministry. The government recently announced plans to cut the VAT rate on internet service to 18% following a national consultation.
Hungary’s biggest internet service providers estimate the VAT reduction will save consumers 300-700 forints a month on their bills, the paper said.
Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.
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