VAT
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Romanian Labor Market Returns To Pre-VAT Hike Levels After Two Years
The number of employees in the Romanian economy reached 4.25 million people in March, marking a return to the level registered in June 2010, before the government raised the value added tax...
Multiple VAT Rates Will Only Lead To Fiscal Evasion, Says IMF
The International Monetary Fund wouldn’t recommend Romania charges different sales tax rates for different types of business activities, because the measure will likely lead to tax evasion,...
Ponta Cabinet Eyes Introducing Simplified VAT Scheme For Small Businesses
Romania’s Finance Minister-designate Florin Georgescu on Monday said the new Cabinet plans to introduce a simplified value added tax scheme for small businesses while a decision regarding a...
EU Council Allows Romania To Increase VAT Ceiling To EUR50,000 From EUR35,000
The Council of the European Union has allowed Romania to increase to EUR50,000, from the current EUR35,000, the annual turnover or revenue ceilings above which Romanian companies have to pay...
February’s Cold Weather Caused Budget Revenues To Rise By Just 1.2%
Romania’s budget was fully affected by the bad weather in February, moving from a surplus of 0.2% of GDP in January to a deficit of 0.4% of GDP in February.
Romania Exempts EU From Refunding VAT For Operational Projects In Transport Sector
The Romanian Government has decided the value added tax (VAT) for projects within the Transport Sector Operational Program will no longer be considered eligible cost compensated from Europea...
Growth Rate Of VAT Revenues Halves In January
The growth rate of revenues from the value added tax slowed down in January to 15%, half of the growth recorded in the same month of 2011. The slowdown of revenues collected came as the base...
Romania Has No Plans To Reduce VAT On Food - Agriculture Minister
Cutting the VAT on food products is not on the Romanian Government's agenda for this year, since the current economic context does not permit fiscal relaxation, Agriculture Minister Stelian...
Romania Wants To Exempt Tour Operators From VAT Payment For Bringing In Foreign Tourists
Romanian Regional Development and Tourism Minister Cristian Petrescu said he plans to propose exempting tour operators from paying VAT if they bring in foreign tourists, hoping the measure w...