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VAT Cuts as Emergency Policy Intervention
Claudio A. Piga
Luisanna Onnis
Maurizio Conti
Anna Bottasso
其他書名
Evidence from the UK Case
出版
SSRN
, 2022
URL
http://books.google.com.hk/books?id=9ZnhzwEACAAJ&hl=&source=gbs_api
註釋
In July 2020, the UK government reduced the VAT rate on hospitality services from 20% to 5%, as response to the COVID-19 pandemic. We compile a novel dataset of detailed hotel room characteristics around this policy action in order to estimate how much the tax cut was passed on to consumers via a price reduction. We find a statistically significant contemporaneous pass-through to hotel room prices that varies between around 20% and 50%, with a peak effect on prices observed on the second week after the reform. However, the pass-through effect is short-lived and disappears two months after the policy introduction.
