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Danish VAT revenues increase 19% in March

Danish VAT revenues increase 19% in March

COPENHAGEN: The revenues from Value Added Tax (VAT) have increased by 19 percent last month, giving a boost to the budget. The preliminary data which could still be subject to revision shows that, VAT revenues increased by nearly 19 percent in March. This is a high figure considering that in January and February revenues from the tax on goods and services decreased by 10 and 17 percent respectively year on year.

Experts interviewed by the Puls Biznesu daily believe that if confirmed, the March VAT revenue could indicate a significant increase in retail sales. Value Added Tax in Poland stands at 23 percent for most goods, but some categories, like food items and products, could carry a VAT of five or eight percent.