As the academic year concludes, a significant tax reduction designed to alleviate costs for parents has officially taken effect. The government has lowered the value-added tax (VAT) applied to family-oriented entertainment venues and children’s meals from the standard 20% down to a rate of 5%.
Targeting the Holiday Season
This adjustment in fiscal policy is timed to coincide with the start of the school summer break. By reducing the tax burden on admission fees for various attractions and dining out for younger children, authorities aim to make recreational activities more affordable for households during the peak vacation period.
Source: BBC News