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VAT on internet services to drop to 5 pc from 2018

VAT on internet services to drop to 5 pc from 2018

VAT on internet services will continue to drop, from the current 18 percent to 5 percent, from Jan. 1.

The economy ministry previously said that the 13 percentage point drop is expected to leave 22 billion forints (EUR 70m) in the pockets of consumers.

In January this year, the VAT on internet services was reduced from 27 percent to 18 percent. Prime ministerial commissioner for the Digital Welfare Programme Tamás Deutsch said at a conference that reducing the price of internet services to a record low level is likely to result in tens of thousands or possibly a hundred thousand new subscribers for service providers.

As a result of the VAT cuts and the introduction of a basic package, the price of internet services will have dropped by 35 percent in January, he added.

FINA

The National Media and Infocommunications Authority (NMHH) earlier told MTI that special attention will be paid to ensure that the new regulations affecting internet services are observed by providers.

Source: MTI

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