The fruit and vegetable sector is waiting for the VAT reduction
Many market players think that about 60 billion HUF falls out of the budget annually because of VAT frauds – Magyar Nemzet Online wrote. The Vice President of the interbranch organization believes that VAT frauds would end, if VAT would be reduced in the sector.
All professional organizations support the reduction of the Value Added Tax (VAT) on basic food products. Now, it looks that the VAT reduction on pork meat will be followed by VAT reduction on dairy products. Value Added Tax (VAT) may soon be reduced from 27 to 5 percent in the sector. However, the most VAT fraud infected area is the fruit and vegetables sector, where the share of the black economy is estimated to be on average around 40 percent. (mno.hu, Horváth Attila)
Related news
This year’s fruit crop is in danger because of the frosts
Temperatures corresponding to the first half of April will remain,…
Read more >A lot of imported tomatoes arrive to Hungary
About 20,000 tons of tomatoes arrive in Hungary from abroad…
Read more >European fruit and vegetable growers joined together for European products
European fruit and vegetable growers joined together and launched a…
Read more >Related news
Waves in the company trend – the changing faces of liquidations and company formations
Even with decreasing terminations, decreasing numbers of companies in the…
Read more >IGD: Retail media and increased efficiency will be important in 2024
This article sets out to summarise the retail trend predictions…
Read more >Domestic businesses are planning cautiously but consciously – VOSZ Barometer business sentiment analysis – Q1 2024
Uncertainty is still strongly felt in the business mood of…
Read more >