Slovakia has announced it is to reduce the sales tax on a clutch of food products from the start of next year.
The Slovak government has decided to cut the tax on fresh bread, butter, freshwater fish, meat and milk from 20% to 10% on 1 January.
The move, on what the Slovak government called “selected basic foodstuffs”, is part of a wider reform of VAT law in the European country. The package was passed yesterday (1 October) in the country’s legislature.
According to local reports, Prime Minister Robert Fico said the cut in tax would also help domestic manufacturers. Fico said the reduction was focused on areas where the country’s government wanted to support local production.
Some opposition politicians reportedly questioned why there would not be a cut on fruits and vegetables. Fico said the government would consider extending the list as part of its annual reviews of fiscal policy.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSee Also:
