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Lower VAT on fish seen as boon for aquaculture

EU

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A cut in the VAT rate on fish could boost consumption and benefit everybody in the aquaculture industry, the head of fish producersʼ association MAHAL told Hungarian wire service MTI on Friday.

The governmentʼs planned VAT cut could reduce the price of fish by 15%, said MAHAL President István Németh.

János Lázár, the head of the Prime Ministerʼs Office, said on Thursday that the government intends to lower the VAT rate on fish from 27% to 5% next year.

VAT rates on fresh milk, eggs and poultry were cut from 27% to 5% on January 1, 2017. A year earlier, the VAT rate on pork was reduced to 5%.

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