Agriculture

Premier: Primary Producers Interested in Transferring 5% VAT to Food Prices

Prime Minister Robert Fico gestures at a press conference following a meeting with representatives of primary food producers in Bratislava on October 11, 2024 (photo by TASR)

        Bratislava, October 11 (TASR) - Primary food producers and processors are interested in transferring the reduced 5-percent value-added tax (VAT) rate to food prices, Prime Minister Robert Fico (Smer-SD) stated at a press conference on Friday following his meeting with representatives of primary producers.
        "All the stakeholders have said that it is in their common interests to do everything possible to ensure that the VAT cut to 5 percent is reflected in prices at the end of the day, although everyone has their own arguments. Traders say they're working with the price of the product excluding VAT. Processors and primary producers are talking about increased inputs, each of course has their own set of arguments," said Fico.
        The premier added that they jointly agreed on what should come next. According to him, the subject of the next meeting, which will probably take place in October, should be more specific. "We're paying attention to this because, of course, you are all talking about the 23-percent VAT, but nobody is talking about the 5-percent VAT, which is not only for a selected range of basic foodstuffs, but also applies to catering, medicines, textbooks, accommodation and books," stated the prime minister.

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