Sales Tax, Packages
New tax reduces relief to €1.60 per month
The VAT reduction for food is set in stone; the National Council has approved it. In exchange, the controversial parcel tax will take effect in October. Left pocket, right pocket: As a result, the net savings shrink to €1.60 per month for an average household, according to a calculation.
The VAT reduction on many staple foods such as butter, milk, pasta, flour, and eggs is now final; the National Council has approved it. The tax rate will then be 4.9 percent instead of 10 percent. This will result in a loss of 400 million euros in annual revenue for the state, of which 300 million euros will benefit households, according to the Parliament’s Budget Office.
Consumers Pay for the Relief Themselves
The measure will be financed primarily through a parcel tax starting in October, amounting to 280 million euros, 225 million euros of which will be borne by consumers. The problem: While this provides relief for consumers on one hand, they will partially pay for it themselves through the parcel tax. This significantly reduces the relief.
Specifically, it looks like this: On average, a household benefits from the VAT reduction by 73 euros per year but must pay 54 euros more “thanks” to the parcel tax. The bottom line is a relief of only 19 euros per year, or about 1.60 euros per month. Agenda Austria criticizes the lack of precision in the policy, which comes at a high cost, calling it ultimately a “robbing Peter to pay Paul” situation.
In the lowest income decile, a household saves an average of 57 euros, but if it orders 30 packages a year, the savings are already gone.
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