FruitVeB calls for VAT reduction or reverse VAT

The Hungarian Fruit and Vegetable Interprofessional Organization and Marketing Board (FruitVeB) calls for the reduction of Value Added Tax (VAT) and if this is not possible, proposes reverse VAT – Mártonffy Béla, FruitVeB President told MTI.

He added that the organization would reduce VAT in the fruit and vegetable sector to around 7-10 percent in the next 3 years. Indeed, distribution without the bill in the sector is estimated at around 40-50 percent. It is so high that it threatens the existence of legal operation. The VAT reduction would whiten the sector, and even it would induce development, as well as it would mean about 20 billion HUF additional income to the State. (MTI)