The product councils consulted with the ministries over the VAT reduction

The product councils consulted with the competents of the Ministry of Rural Development (VM) and the Ministry of National Economy (NGM)  over the possibility of VAT reduction at the Ministry of Rural Development (VM) on Wednesday.

Menczel Lászlóné, secretary of the Livestock and Meat Marketing Board and Interprofessional Organisation (VHT), and Lukács László, Managing Director of the Milk Marketing Board Interprofessional Organization and Member of the Board of VHT informed MTI on Thursday over the meeting.

According to the calculations of the main proponents differentiated VAT reduction of the animal product lines would cause a total of 60.5 billion HUF revenue loss to the budget, which is around 0.2 percent of the GDP. (MTI)