Trademagazin > News and articles > Market News > The British government would terminate the VAT-free of food
The British government would terminate the VAT-free of food
The British government is considering the termination of VAT-free of food, in order to reduce the unprecedented deficit.
Currently there is no value added tax on the basic foods, that can be purchased at stores in Britain. However, if only 3-5 percent value added tax would be imposed on food, it would bring billions to the budget. According to estimations; the British people spend 120 billion pounds (37 thousand billion forints) in supermarkets, on food annually – reports MTI, after Sunday Telegraph.
Related news
More related news >
Related news
In June, the annual decline in producer prices slowed down in Germany
In Germany, producer prices fell by 1.6 percent year-on-year in…
Read more >Rural accommodations closed a stronger half year than last year
The momentum of tourism in 2023 will continue to make…
Read more >Munch is now available in every Auchan store
From the beginning of May you can get the three…
Read more >