More and more costumers buy abroad, due to VAT increase

Household consumption decreased, due to the increase of VAT rate from 20 percent to 25 percent it also “fattened” black economy, and weakened tourism – states the National Trade Association. (OKSZ)

According to Vámos György, Secretary-General of the National Trade Association (OKSZ);  the VAT increase was a wrong decision overall, because the 5 percentage point increase, mean a 450 billion HUF burden, for the households.
The analysis shows that more and more people buy abroad, because of the high VAT rate in Hungary. And this restrains the recovery – reports ProfitLine.hu.