Dairy Product Board: reverse VAT is not an alternative to VAT rate cut

The Milk Interprofessional Organization and Marketing Board does not consider the application of reverse VAT in agriculture and in the food industry as a good solution, since it is not an alternative to a significant VAT rate cut among basic foodstuffs – Lukács László, executive director of the Milk Marketing Board told MTI on Wednesday in Budapest.

The Dairy Product Board reserves its earlier suggestion that the government should use a decreased 5 percent VAT (Value Added Tax) rate in case of  some leading products of  several basic food products. The Dairy Product Board  intends to tell its opinion at the professional consultation, that will be held in the Ministry of Rural Development (VM) on Wednesday afternoon. (MTI)