Hungarian Festival Organisers Say VAT Cut Key To Weathering Crisis

  • 4 Aug 2020 8:35 AM
  • Hungary Around the Clock
Hungarian Festival Organisers Say VAT Cut Key To Weathering Crisis
The restrictions on gatherings and the cancellation of festivals is expected to cost the economy Ft 80 billion, Hungarian Festival Association (MFSZ) chairman István Márta told business daily Világgazdaság.

The cabinet last week extended the ban on gatherings of more than 500 people at entertainment events to beyond August 15.

The restrictions will have a very severe impact on the sector in the medium and long terms, said Márta.

The MFSZ has called for a reduction of VAT from 27% to 5% on tickets for musical events.

Members also argued for similar wage and payroll tax support as in the tourism sector.

The festival industry employs about 37,000 people directly and 370,000 indirectly, Márta added.


MTI Photo: Balázs Mohai

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