FM: The year starts with a VAT reduction in the food industry

By: Trademagazin editor Date: 2018. 01. 05. 11:40

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From January, a further VAT reduction is taking place in the food industry.

Nagy István, the Parliamentary Minister of State of the Ministry of Agriculture (FM) told M1 news channel that the measure affects two major product lines. In the case of pigs, the VAT on slaughterhouse by-products and will be reduced to 5 percent, and the tax on fish for consumption will also be reduced to this level. According to Nagy István, the measure supports the Hungarian producers. (MTI)