VAT on Hungarian district heating to fall
Wednesday June 17, 2009
Ministers in Hungary have agreed a deal to cut VAT on district heating by 20 per cent, it has been claimed.
According to Portfolio.hu, local newswire MTI has claimed that prime minister Gordon Bajnai and other politicians are to reduce the rate from 25 per cent to five per cent at the start of next year.
In addition, the service will also be given a preferential rate of 18 per cent from the start of August, subject to European Commission rulings.
Other items which may also be affected by the rate cut include books, daily newspapers and medicine.
According to WorldRadio.ch, the Swiss parliament is currently discussing the possibility of upping its own rate of VAT.
It is believed the country’s senate has rushed through legislation on the issue which could see it introduced by 2011.