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Restaurants ready to hire new staff when IVA drops to 13 %

A study has found that two thirds (77%) of Portugal’s restaurants will hire more staff when the sector’s IVA (VAT) rate drops 10 percentage points from its current 23%, and returns to pre-austerity levels.

Most restaurants also claimed they will “increase salaries and work conditions” and invest in “renovations and new products”.

The study was carried out by Portugal’s hotel and restaurant association AHRESP.

Reducing restaurants’ VAT was the election pledge of Portugal’s new Prime Minister António Costa who dubbed it “fundamental” to reviving the sector. He claimed it would create “thousands of jobs”, but this far nothing has changed.

Thus Portugal’s Earth Party (MPT) is turning up the pressure.

– See more at: http://portugalresident.com/restaurants-ready-to-hire-new-staff-when-iva-drops-to-13Restaurants 13 % IVA