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Lowering of VAT on food will see two prices marked on food items during transition period


Lowering of VAT on food will see two prices marked on food items during transition period
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The lowering of the value-added tax on food products will see two different prices marked on food items in shops.
      According to the daily Keskisuomalainen, many grocery store chains are already starting to mark their products with prices according to the current taxation practice, but also according to the upcoming practice with lowered VAT.
     
The aim of this conduct is to secure the transparency of the altering of the pricing practice.
      The last time Finland saw products in shops being marked with two separate prices was when the country started using the euro as its currency in 2002.
     
The changing of the VAT percentage will cost millions of euros.
      According to Keskisuomalainen, however, the store chains are satisfied with the fact that the lowering of the VAT is finally materialising.
      In October the VAT levied on food sold in grocery stores will be brought down by five percentage points to 12% from the current 17%.


Previously in HS International Edition:
  Minister of Finance suggests compromise over cutting VAT on food (18.8.2009)

See also:
  Government reaches agreement on VAT cut on food (27.8.2009)

Helsingin Sanomat


  11.9.2009 - TODAY
 Lowering of VAT on food will see two prices marked on food items during transition period

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