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
Related news
Related Events
Related Organizations
-
-
Footwear Consumer 2030
A study reflecting on the main global consumer trends and the key changes for the footwear industry.
-
World Footwear Public Calendar
Click here to subscribe an updated version of the calendar displaying the footwear trade shows.
-
-
-
Media Partners
Media Partners
-
Shoes Report
Fotoshoe
SHOES-MAGAZINE.COM
ARS ARPEL