Financial expert provides insights: Effects of the VAT increase in the catering industry

Financial expert provides insights: Effects of the VAT increase in the catering industry

According to a report from www.wp.de, the increase in VAT in the catering industry poses problems for restaurants. Dirk Engemann from Winterberg sometimes draws conclusions. Next year, VAT in the catering industry will rise again to 19 percent. The tourism industry is particularly affected by this.

The consequences of this tax increase should not be underestimated. It could have a negative impact on restaurant sales, which in turn could lead to a decline in sales and possibly even job losses.

The increase in VAT has already led to price increases in restaurants. Dirk Engemann has already had to adjust his prices to cope with the increased costs. The loss of sales could also lead to fewer employees and job losses in the catering industry.

The tourism industry, which is already affected by the COVID-19 pandemic, is particularly suffering from this disadvantage. The decline in sales could lead to reduced demand in the tourism sector.

Conclusion: The renewed increase in VAT in the catering industry and the resulting price increases represent a major challenge for the industry. It is important that the government takes measures to mitigate the impact on the catering and tourism sectors. Otherwise, jobs could be at risk and lost sales could threaten the existence of many companies. It is expected that the industry will undergo extensive changes to adapt to the new circumstances.