The German government will temporarily reduce VAT on gas consumption by three times
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The German government plans to reduce the value added tax on gas consumption from 19% to 7%. Benefits will be valid until March 31, 2024. This was announced by German Chancellor Olaf Scholz.
“Today, the federal government has decided to temporarily reduce VAT on gas to 7%,” he said at a press conference in Berlin (quoted from TASS). According to him, the reduced VAT rate will be in effect as long as the fee for the purchase of gas is levied, that is, until March 31, 2024.
According to estimated Federal Association of Energy and Water Companies of Germany, after the reduction of VAT, German households should save €57 per year, apartment owners – €190 per year.
Before the start of the military operation in Ukraine, 55% of the gas imported by Germany came from Russia. At the end of March, this figure fell to 40%. Russian gas deliveries to Germany have declined even further after the turbines for Nord Stream were delayed for repairs in Canada. After that, Gazprom cut gas supplies through this pipeline by up to 40%. On July 27, the company reduced its capacity to 20%, citing maintenance work. As a result, electricity prices in the country have increased six times compared to 2021.
On the plans of Germany in the gas industry – “Germany will replace Nord Stream with LNG”.
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