Government will not meet calls for a reduction of VAT on restaurant services, not before the next budget speech, Finance Minister Tonio Fenech told The Times Business.
“Now that the EU has given member states the option of cutting the VAT rate on restaurants we will be talking to the MHRA to share our views on the matter. However, a reduction on VAT is not brought about just like that and if we do go ahead and cut the rate it will be announced during the next budget. Furthermore, we will be asking the MHRA to give us a guarantee that consumers will benefit from a cut in the VAT rate. Otherwise such a reduction would not make any sense,” Mr Fenech told The times Business.

A few weeks ago the EU agreed to allow member states to reduce VAT on restaurants as part of a set of initiatives to boost the economy amid the current crisis.  The decision was welcomes by stakeholders in Malta.

    Netvibes ShareFacebookTwitterDiggStumbleUponDeliciousBlogger PostYahoo MailAOL MailHotmailGmailGoogle BookmarksMySpaceShare/Bookmark

Related Articles: