Germany temporarily reduces VAT rates
From 1st July to 31st December 2020, the VAT rate is to be reduced from 19 per cent to 16 per cent and for the reduced rate from 7 per cent to 5 per cent.
The largest grocery retailers such as Schwarz Group, Aldi Nord and Süd, Edeka and Rewe announced to pass on tax cuts to consumers. With non food chains the situation is not as clear. Due to loss of sales during lockdown many operators mull, how to react.
Related news
Vegan barbecues will cost more in Germany this year
In Germany the price of vegan grilling products grew by…
Read more >German retail sales growth slowed more than expected in May
Retail sales in Germany slowed more than analysts had expected…
Read more >The price of strawberries has doubled in ten years
While in 2015, a kilogram of domestically grown strawberries in…
Read more >Related news
WHO: They urge a 50 percent price increase for tobacco, alcohol and sugary drinks
The World Health Organization (WHO) is calling for the prices…
Read more >Eurozone economic growth accelerated in June
The eurozone’s economic performance accelerated in June, according to the…
Read more >This is how drug prices are changing: the government introduced price restrictions
The Ministry of National Economy’s price restrictions on medicines came…
Read more >