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