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Increase in VAT in the catering industry: Financial expert warns of serious consequences
Berlin. From January onwards, a VAT rate of 19 percent will apply again to food in restaurants. That's how desperate Berlin's restaurateurs are. Danjel Zarte is frustrated and “pissed off,” as he says, about the upcoming increase in VAT on food in restaurants. In addition to two bars, the Berlin restaurateur runs “Das Hoven”, a café in Neukölln. “The increase in VAT is an outrage because the catering industry is doing worse than ever before,” says the 35-year-old. Matthias Martens, the operations manager of The Grand Berlin, also confirms: "We are dreading the VAT increase. It is the next blow in the books of an industry that has been...
Increase in VAT in the catering industry: Financial expert warns of serious consequences
Berlin.From January onwards, a VAT rate of 19 percent will apply again to food in restaurants. That's how desperate Berlin's restaurateurs are.
How www.morgenpost.de reported,
The upcoming increase in VAT on food in restaurants in Berlin will undoubtedly have a significant impact on the industry. The current statements from restaurateurs make it clear that the increase is seen as an additional burden, especially given the ongoing difficulties caused by the corona pandemic.
The increase in VAT will most likely lead to a further increase in prices in restaurants and cafes to compensate for the additional costs. This could lead to consumers eating out less frequently, which in turn could affect restaurant businesses' revenues.
In addition, the VAT increase could lead restaurateurs to take a closer look at their operating costs and possibly take measures such as downsizing or savings in the purchase of raw materials. This could in turn have an impact on employment and suppliers in the region.
Overall, it is to be expected that the increase in VAT on food in restaurants in Berlin represents a further challenge in an already tense and uncertain economic situation. Financial professionals should closely monitor developments in the industry in the coming months to understand the long-term implications and make adjustments to their forecasts if necessary.
Read the source article at www.morgenpost.de