Fact from today the much-discussed increase of VAT from 15 to 17%. Consumers will be forced to put their hand deeper into their pocket, as VAT will increase on a wide range of products and services. From fuel and electricity, to tobacco products and cosmetics…
The annual revenues of the state are expected to increase by 150 million Euros. The increase also affects in some cases the purchase of housing and premises.
The fact that the measure will not be applied in cases where the VAT rate is 5% or 8% is considered positive.
All the competent services of the Ministry of Commerce are on alert. Hundreds of checks have been carried out so far, in an effort to avoid price rounding.
However, the Consumer Associations are concerned about the domino effect of increases, inflationary pressures and chain effects.
Source: SigmaLive