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VAT cut set to boost fish consumption at least 10%

Telco

A VAT cut is expected to boost fish consumption by at least 10% this year, but a joint campaign by the government and professional association Mahal aims to raise local sales by 20% by 2023, a spokeswoman for the non-profit Agricultural Marketing Center (AMC) said on Friday.  

The VAT rate on fish was lowered from 27% to just 5% from the start of 2018, state news agency MTI recalled.

AMC spokeswoman Lilla Henter Végvári said the campaign organized by the AMC and Mahal will use HUF 800 million in European Union funding, including HUF 350 mln in 2018 alone.

Hungarians eat 6 kilograms of fish per capita a year, well below the 20 kg EU average.

Annual revenues of Hungaryʼs fishing industry come to about HUF 13 bln, but higher exports added at least HUF 1 bln to turnover last year, MTI reported.

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