Food Retail: Tax Cut Passed on Despite Challenges
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4 Articles
VIENNA. As of 1 July, VAT on selected staples has been reduced from 10 to 4.9 percent, and now the food trade took a first balance.
With the exception of a few months, the price trend in the food trade has always been below total inflation, according to the Chamber of Commerce.
As of July 1st, the value-added tax (VAT) on selected basic foodstuffs was reduced from 10 to 4.9 percent, and the food retail sector has now taken stock of the initial results. According to them, the transition has been largely seamless. Nevertheless, the sector is not entirely satisfied. "It would have been significantly simpler and administratively more efficient to reduce the tax rate uniformly across all foodstuffs previously taxed at ten p…
Two months after the reduction in the value added tax on basic foodstuffs, it is evident that the conversion has been successful despite enormous effort. The tax reduction is passed on completely. Two months after the entry into force of the VAT reduction on selected basic foodstuffs, the Federal Food Trade Board in the Austrian Chamber of Commerce (WKÖ) draws a first summary. Despite some stumbling blocks in the implementation, the conversion i…
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