Socialists’ petition drive to lower VAT approved
The signature sheets of the Socialist Party’s petition drive to reduce VAT were distributed to constituency officials a few days ago, Népszabadság reports. Deputy caucus leader Zoltán Lukács told the newspaper that as the governing party would not even approve their proposal to lower the VAT on food items from 27% to 5% for debate in Parliament, they will now turn to ordinary people. The government does not support the idea. Economy Ministry state secretary Zoltán Cséfalvay recently told Parliament that such a reduction in VAT would cost the budget HUF 70-240 billion, whereas cutting utility rates can help ease burdens on families without endangering the budget.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.