Lower VAT on petrol and gasoline
Value added tax of petrol and gasoline will be cut earlier than previously planned, Prime Minister Ferenc Gyurcsány promised yesterday. Due to extremely high world market oil prices, a 20 per cent VAT rate will apply for these products, at best as of mid-November, instead of a present 25 per cent rate. This will result in a retail price cut of about Ft 10 or 12. Road hauliers are not satisfied, however. They want to go on with their negotiations with the government about other issues as well, including the car registration tax and excise duties on fuel.
