Agriculture Ministry to propose reducing VAT on meat, milk, bread
Agriculture Ministry plans to propose reducing value added tax rate for meat, milk, bread and fish, as confirmed by Agriculture Ministry’s parliamentary secretary Ringolds Arnītis.
«If we notice benefits from reduced VAT on fruits, vegetables and berries, we will definitely consider reducing VAT for food products such as milk and meat. I would even go as far as to say that this may be the next step to help us achieve positive results. The same applies to fish and bread. Those are food product groups in which reduction of VAT would give a serious boost for manufacturers and definitely benefit consumers’ wallets,» says Arnītis.
He adds that Agriculture Ministry would consider proposing a reduction of VAT on aforementioned food products only after careful consideration as to how it could affect the state budget.