Ministry propose reduction of basic food product's VAT

Food

The Rural Development Ministry will submit his proposal on VAT reduction on the cabinet meeting due in mid-March, Hungarian daily Magyar Hírlap said. Daily newspaper Magyar Nemzet also writes that government might reduce the VAT on some basic food products. While the rate reduction might be expanded to several products, the proposal doesn't include a single VAT rate for food and agricultural products. "This tax would help reduce illegal economy for an instance, I hope that our efforts will lead to success and the government will accept the ministry's draft," György Czerván, Rural Development Ministry's secretary of state responisble for agro-economy said.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.