French VAT Cut Boosts Restaurant Trade - BusinessWeek
Although France may have just officially emerged from the recession, an appreciating euro and a decline in tourism continue to take a toll on the country’s beleaguered restaurant industry. But the French government’s decision to slash the value-added tax, a levy similar to sales taxes in the U.S., from 19.6% to 5.5% in the country’s restaurants as of July 1, is expected to give one of France’s most important industries a much-needed boost.
