VAT on milk to decrease

The VAT on UHT and ESL milk will decrease to five percent – according to the tax package submitted on Friday afternoon – Index wrote after the communication of the Ministry of Finance.

If the Parliament approves it, next year the tax allowance for families with two children will increase by five thousand HUF per month, the tax exemption for small businesses may increase to 12 million HUF, the bank tax can be reduced (from 0.21 percent to 0.2 percent), the employment of pensioners could be more favorable, because the employer would not have to pay a vocational training contribution after them, and the tax benefit for R & D employment would increase. (Stubnya Bence, Index)