Internet VAT rate cut would reduce budget revenue EUR 38-42m
Budapest, April 11 (MTI) – A reduction in the VAT rate on internet service from 27 percent to 18 percent will reduce budget revenue by an annual 12-13 billion forints (EUR 38-42m), business daily Világgazdaság said on Monday, quoting calculations by the Economy Ministry.
The government recently announced plans to cut the VAT rate on internet service to 18 percent following a national consultation.
Hungary’s biggest internet service providers estimate the VAT reduction will save consumers 300-700 forints a month on their bills, the paper said.
Source: http://mtva.hu/hu/hungary-matters
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
Don’t miss out on these 5 amazing Hungarian festivals at Lake Balaton this summer!
Another Chinese city to be directly accessible from Budapest this summer!
Gastronomy tourism in Hungary is thriving: what brings people to the country?
Hungarian government to support tourism competitiveness with EUR millions
Breaking: Hungarian central bank cuts interest rates further, forint reacts
IMF forecast: Hungary’s economy to return to growth this year