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Top Geenius News

Soon-to-Rise VAT Will Force Retail Chains to Raise Prices. Coop: Otherwise We Would Be in a Loss - Business Genius

Europe · Estonia

Soon-to-Rise VAT Will Force Retail Chains to Raise Prices. Coop: Otherwise We Would Be in a Loss - Business Genius

From July 1, the VAT rate will increase to 24 percent instead of the current 22%. Retail chains promise that they will not add to the price themselves and that the prices of food products will only increase by the VAT rate, no more. According to Mariann Järvela, communications manager at Selver, the retail chain will incorporate the VAT rate change into its prices in an amount that exactly corresponds to the VAT rate increase. “The price change …Read Article

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