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Slovak parliament passes 10-pct VAT on select foods

Xinhua, October 1, 2015 Adjust font size:

As of Jan. 1, 2016, value-added tax (VAT) will be lowered for select foods from the current 20 to 10 percent, based on an amendment to the law on VAT that was approved by Slovak Parliament on Thursday.

The lowered VAT rate will apply to meat from farmed cattle, pigs, sheep and goats, either fresh or frozen. Meat of wild animals is not included. The list also features poultry and domestic rabbit meat, fresh or frozen.

VAT will also be lowered for freshwater fish with the exception of ornamental fish. In addition, the new rate will apply to milk, butter and fresh bread, based on a special regulation.

According to members of parliament, the reasoning behind the move is that discounted VAT should make the retail price of food more affordable. Another aim is to support food production and animal husbandry in Slovakia. Endit