Austria to Cut Value-Added Tax on Staple Foods to 5%: APA

Austria will reduce the value-added tax on staple foods to 5% from 10%, according to APA newswire, citing unidentified people familiar with government plans.

• The halving of the tax will be implemented mid-year
• Tax cut will be financed through higher levies on non-recyclable plastics, as well as fees on goods shipped from non-EU countries
• Details to be unveiled following government meetings this afternoon: APA

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