Lithuanian president says VAT cuts will raise supermarket profits, not benefit consumers

Lithuanian President Dalia Grybauskaitė has criticized the government's suggestions to cut VAT rates on some foodstuffs in order to rein in prices. The measures will benefit retailers, not consumers, the president believes.

"We are talking about rising prices and part of the society not being able to afford basic food products. There are many studies, including by the European Commission, suggesting that VAT cuts usually benefit producers and supermarkets. Consumers get between 15% and 30%," Grybauskaitė said on Thursday.

PM Algirdas Butkevičius, Finance Mi

Lithuanian president says VAT cuts will raise supermarket profits, not benefit consumers

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Lithuanian president says VAT cuts will raise supermarket profits, not benefit consumers

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