GIFAP clarifies VAT status of French fishing baits
Manufacturers across France are celebrating after the country’s government confirmed reduced VAT rates on many fishing baits.
GIFAP, the trade body that represents the recreational fishing industry in France, has clarified the VAT tax rate following communication with the Ministry of Economy, Finance and Recovery.
In a response to its enquiries, the Ministry has confirmed that flour and groundbait, which constitute unprocessed products of agricultural origin, and pellets and boilies are products of a food nature that are used for recreational fishing and fish farming. They therefore fall under the reduced 10% VAT rate.
The Tax Administration has established that VAT reduction is subject to the animal nutrition regulations, which require approval from the veterinary services or a registration number.
All baits – floating boilies and others – that do not fall within the framework, are subject to the normal rate of 20%.
The legislation came into effect at the beginning of this month.
Picture: courtesy of GIFAP