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EU Reporter Published 1 min ago writes Ulrich Adam. Lockdown restrictions did not just create large-scale unemployment by closing millions of hospitality businesses. They also meant that governments lost out on enormous sums in tax revenue: in Europe, the hospitality sector normally contributes more than €125 billion annually to government treasuries in excise duties, VAT and other taxes. Politicians will be eager to ensure that treasuries benefit from the reopening of hospitality and socialising venues. However, they must balance the need to generate revenues with the need to ensure that businesses in these sectors can flourish and self-sustain in the immediate post-Covid period. Premature additional tax burdens might do the opposite, and delay the recovery by acting as a drag to job creation and financial health of the sector.

Ulrich adamWorld health organisationFiscal studiesrecommendsஉல்ரிச் ஆடம்உலகம் ஆரோக்கியம் ஆர்கநைஸேஶந்