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Retailers ‘Ate’ One Third Of Food VAT Cut From 24% To 9%
Prices of food and non-alcoholic beverages rose by about 3.6% in the online stores of Carrefour and Cora in the first year of 9% VAT, which means about one third of the about 13% drop in pri...
ASF To Cut Some Taxes, Quotas For Insurance And Private Pension Companies As Of January 1
Romania’s Financial Supervisory Authority (ASF) will cut certain taxes and quotas applied to private pension funds by 50% and by 20% for insurance companies, as of January 1, with an impact...
ANRE: Romania To Cut Natural Gas Price By Up To 10% As Of July 2016
Romania will cut natural gas prices by up to 10% as of July 1, 2016, due to the international evolution of the tariffs, Niculae Havrilet, head of Romania’s energy regulator ANRE, told Mediaf...
Infrastructure Spending Cut Undermines Romania’s Economy
Private sector companies are losing competitiveness, real estate assets stay frozen and cannot be sold, wages cannot be raised because of increasing costs and the entire local business secto...
VAT Cut To Leave Consumers With RON5B Disposable Income If Retailers Cut Prices, Too
In a surprise move, the Romanian government announced a value added tax cut to 9% from 24% as of June 1 not only for staple foods, but also for all agri-food products, non-alcoholic beverage...
Tax Authority Sends Letters Instead Of Focusing On Tax Collection Improvement
The tax authority, the institution that should make sure the government collects all the due taxes, has turned overnight into a sender of letters informing taxpayers that they are eligible f...
Gedeon Richter's Drugstore Chain In Romania Lowers Capital By EUR2.5M
Gedeon Richter Farmacia, the 120-drugstore network Hungarian pharmaceutical group Gedeon Richter owns in Romania, has lowered its share capital by RON11.38 million (EUR2.58 million), by redu...
Isarescu: Decision To Cut Key Rate To 3.25% Not An Easy One
Romania’s central bank (BNR) decision to cut the key rate to 3.25% was not an easy one considering the potential response of commercial lenders, as already seen, to first cut deposit interes...
Savings Enabled By Social Security Tax Cut To Go To Raises And Investments, Entrepreneurs Say
Romanian entrepreneurs would use the money saved on social security tax after a cut thereof for raises, investment in expanding operations and new jobs, and for offsetting potential price hi...