VAT Cuts Helps Economic Growth

Several positive effects will take place, says officials

MH – 2017.01.05. 18:04 –

VAT cut promotes economic growth, said officials Thursday.

“The reduction in VAT promotes economic growth and results in the whitening of the economy, increased domestic consumption and lower imports”, Deputy State Secretary Zsolt Feldman said adding that VAT within the food sector had fallen from 1 January on fresh milk, poultry and eggs, while the consumer tax on pork carcass meat had already been reduced last year.