<p style=““ class=“text-align-justify“>This is being announced by German chancellor, Olaf Scholz, as the government is trying to reduce the burden for consumers. For some context, the tax otherwise would be 19% and the government is hoping that companies will pass on the VAT cut in full to consumers as such.</p><p style=““ class=“text-align-justify“>The move above comes after Brussels rejected Germany’s request for an exemption on its new gas price levy – which was proposed as a measure by the German government in order to help Uniper and other gas importers cope with soaring prices due to reduced Russian export flows.</p>

This article was written by Justin Low at www.forexlive.com.