The government originally planned to raise the preferential VAT rate, which applies to food and other products, to 20% from September 1.
The new solution will lessen the burden for low-income households and generate a similar amount of budget revenue as the original proposal, according to market observers. The government originally planned for the VAT raise to bring in an additional Ft 60 billion in budget revenue in 2006 and an extra Ft 170 billion in 2007.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
