- Permanent Cancellation of VAT Increase: The government has decided to permanently abolish the planned VAT increase on sports, culture, and media, aiming to provide financial relief to these sectors amid high inflation and economic challenges.
- Offsetting Revenue Loss: To compensate for the lost revenue from the VAT cancellation, adjustments will be made to tax brackets and tax credits within the income tax system, ensuring budgetary balance without imposing additional burdens on taxpayers.
- Support for Households and Businesses: This measure is expected to lower operational costs for businesses in the affected sectors and make services more affordable for households, encouraging greater participation in cultural and sports activities while maintaining financial stability.
Sources:
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