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VAT rate hike brings less revenue than expected to state coffers

Yle News
Summary
Nutrition label

78% Informative

The government raised the general VAT rate from 24 percent to 25.5 percent at the beginning of September .

The Ministry of Finance now estimates that the VAT hike brought about 160 million euros in extra income to state coffers in September and October .

Last year , the state collected 21.4 billion euros in VAT revenue, but that figure is set to rise by 300 million euros this year .

The government plans to raise the VAT on an array of products and services from 10 percent to 14 percent next year .

VR Score

86

Informative language

90

Neutral language

72

Article tone

formal

Language

English

Language complexity

49

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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no external sources

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