OKSZ still calls for VAT cut

The VAT rate reduction of basic foods would be advantageous both for the customers and for the market participants – provides the communication of the National Trade Association (OKSZ).

The question is, what are the basic foodstuffs. The different proposals that have been published are different, one proposal covers primarily the meat products, the other covers milks. The proposals are mainly initiate a 5 percent VAT rate, higher tax rate reduction would cause revenue loss to the budget in the period following the introduction. It is a question, that such a loss of income can be tolerated, and what consequences are expected in the food industry. (Világgazdaság Online)