BREAD
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PM: Government To Cut VAT On Bread If Breadmakers’ Associations Help It Fight Tax Evasion
Romanian Prime Minister Victor Ponta said the sales tax on bread will be lowered from 24% to 9% only if breadmakers’ associations help the Government in its fight against tax evasion.
Government To Revise Budget End-July, Lower VAT On Bread Likely In September
Romania’s Government will operate this year’s first budget revision at the end of July and hopes enough funds will be saved to allow the lowering of VAT on bread as of September, Prime Minis...
Pambac Borrows EUR8.5M To Buy Wheat
Romanian Bacau-based bread producer Pambac borrowed EUR8.5 million to buy about 50,000 tons of wheat, Catalin Grigoriu, the general manager of the company, said.
Porumboiu Builds New EUR6M Bread Plant
Farming and food industry group Racova owned by businessman Adrian Porumboiu will start construction of a new bread plant in Vaslui (NE Romania) in the next few months.
Romania’s Applying Lower VAT On Bread Depends On Reverse Taxation For Cereal
Romania’s Government will decide whether to apply a lower sales tax, of just 9% instead of 24%, on bread alone or the entire wheat-bread chain depending on the European Commission’s plans re...
Constantin: Lowering VAT On Bread Will Bring Added Revenues To Budget
Reducing the value added tax on bread from 24% to 9% starting 2013 will bring higher revenues to the state budget, will fight tax evasion and will either decrease or stabilize bread price fo...
Lowering VAT On Bread Not Feasible As Romania Lacks Revenues To Offset Loss
Reducing the value added tax on bread from 24% to 9% starting 2013 would have a significant impact on the state budget and, although in theory the measure may curb tax evasion in the bread i...
Spicul Seeks Investor To Revive EUR30M Plant
Bakery company Spicul (wheat ear), which owns one of the most powerful brands on the market with an over 160-year history is looking for a strategic investor.
Ponta: Lowering VAT On Bread Requires Funds Of RON120M For 2H/2013
Reducing the value added tax on bread from 24% to 9% requires provisions of 120 million lei (EUR27.2 million) for the second half of the year, Romanian Prime Minister Victor Ponta said Monda...