- German Chancellor Olaf Scholz proposes lowering VAT on basic groceries to assist low-income families amid high inflation
- Scholz is campaigning for a second term with elections anticipated in February
- He suggests reducing VAT on everyday food items from 7% to 5%
- Scholz believes this tax cut will support those with low incomes without heavily impacting the federal budget
- He shared these views in an interview with ARD public broadcaster
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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