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Germany: VAT cut to stimulate consumption

Jun 10, 2020 Germany
Germany: VAT cut to stimulate consumption
The value-added tax (VAT) rate on non-food products is being reduced from 19% to 16%, starting from the 1st of July. The measure should be in place for the rest of the year and aims to give a boost to consumption and the economy
German authorities also decided to cut the VAT rate for restaurants from 19% to 7%.

The lower sales tax could work as a stimulus for customers in neighbouring countries to engage in shopping activities in Germany.

Source: ShoeIntelligence

Image credits: Josh Appel on Unsplash

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