Lithuanian Prime Minister Algirdas Butkevičius has agreed with the finance minister and his party to propose value added tax (VAT) cuts for chilled and fresh meat.
Algirdas Butkevičius
© DELFI / Tomas Vinickas

The proposal would have VAT rates cut from 21% to either 9% or 5%.

According to Butkevičius' spokeswoman, the proposal will be submitted to the government and the Seimas shortly and a reduced VAT rate, if approved, would be introduced in October.

"A reduced VAT rate of 5% or 9% on chilled and fresh meat is proposed. If the rate were cut to 5%, around €80 million would be needed (to make up for lost budget revenue)," Evelina Butkutė-Lazdauskienė said on Friday.

"According to the prime minister, the cuts are aimed not only at making meat cheaper, but also at providing a stimulus to livestock farming," she said.

BNS
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