Did you know or would you be able to recall that the VAT rate which was decreased in December 2008 to 15% was just a transitory decrease. The decrease from 17.5% to 15% occurred from 1 December 2008 and was conceded for an era until 31 December 2009. From 1 January 2019, the VAT rate will increment. In the Pre Budget Report, it was chosen that the diminished VAT rate would not go on hold and will come back to its past rate of 17.5% as from
The impact upon the fuel expenses can likewise influence the expense of our sustenance before it even gets to the racks in the stores where we will buy it from. This is on the grounds that the haulage organizations and the various outsider organizations required from the generation of the nourishment, putting away and transporting it to the shops will likewise be influenced by the expansion in VAT. This implies every one of the organizations in the background will have raised costs and after that general stores and shops will at that point need to take care of this expanded expense and additionally then including the expansion of the VAT which we will be obliged to pay.
So would we say we are prepared for this? No, most likely not. We will likely not see the individual increments on the sustenance things; however you will presumably find that our shopping bills are expanding and whereby you would regularly have a financial plan for your nourishment shopping, this should increment.
The expansion of VAT is likewise going to influence the expense of our fuel, which has effectively expanded recently and prices in Bratislava at present appears to continue expanding. So our fuel costs for joy, going to work and so forth will likewise increment and again you will see your financial plan being extended or find that you are not doing the same number of miles in the vehicle as you used to.
Tragically there is nothing we can do about the expansion in VAT, other than monitoring it, and modify any of your financial plans in like manner so you are still responsible for your consumption.