Report: VAT decrease on pork causes panic in poultry sector
Hungary’s poultry producers are in a panic as the cut to the VAT rate on pork from 27% to 5% as of January 1 has led to a significant drop in demand for poultry meat, and other food sectors are lobbying for similar VAT decreases, Hungarian economic daily Világgazdaság reported today.
Attila Csorbai, head of the Poultry Products Council, called the favorable tax on pork meat discriminatory, and told the paper that its negative impact can already be felt in the industry.
He said that the industry is open to a similar VAT cut, the paper reported, adding that the council head is scheduled to meet György Czerván, state secretary for agriculture, to discuss the possibilities.
Csorbai declined to give figures for the time being, however, he noted that data will be evaluated as of the beginning of January, and exact figures will be published at a later date, the paper noted.
The fishing and dairy industries have already expressed openness to a similar VAT decrease, according to reports.
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.