MAHAL expects the increase of fish consumption from the VAT cuts

According to the Hungarian Fisheries and Aquaculture Association (MAHAL), the planned reduction in the VAT on fish meat could reduce fish prices by 15 percent, stimulate consumption and encourage all players in the sector, Németh István, president of the organization told MTI.

Lázár János, Minister leading the Prime Minister’s Office, announced on Thursday that from next year, the VAT on the fish for consumption could be reduced to 5 percent.

István Németh reminded that the VAT reduction was already urged, as the sector was at a competitive disadvantage after the previous reduction of VAT on pig and poultry meat. The VAT cut can boost the entire sector, the Hungarian aquaculture and the production of fishery products – he added. (MTI)