VAT
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Central Bank Governor: VAT Cuts Affect More Than 80% of Consumer Basket
Successive cuts in the value-added tax affect more than 80% of the consumer basket and the most recent VAT cut in January targeted about half of the consumer basket, central bank governor Mu...
Avon: VAT Cut Could Steer Customers To Upper Range Products
Consumer spending will go up this year following the overall VAT cut from 24% to 20% as of January 1, believes Razvan Diratian, general manager of cosmetics company Avon Romania.
Unicarm: VAT Cut Helped Us Keep Sales Flat
Romanian consumers’ appetite for spending remains low, which is why the food VAT cut from 24% to 9% as of June 1, 2015 helped his company’s sales remain flat, says Vasile Lucut, owner of mea...
Dairy Industry Expects To See Food VAT Cut Effect At The End Of The Year
The food VAT cut as of June 1 was the breath of fresh air Romania’s dairy industry had been waiting for and most of the largest companies in the business expect to see the impact of this ste...
Nestle: Food VAT Cut Drove Romanians’ Purchasing Power Up
The food VAT cut as of June was a good step and helped improve the purchasing power of Romanian consumers and the sales of Nestle, says Herve de Froment, who is in charge of the local operat...
Romania May Lower VAT On Water To 9% To Support Agriculture - Minister
The Romanian Government is likely to lower the value added tax on water as well, from the current 24% to 9%, in a bid to support the country’s agriculture, mainly the irrigation sector, Fina...
Napolact Sees 13% Rise In Sales After Food VAT Cut
Napolact, the main growth driver of the local operations of Dutch-held FrieslandCampina, posted 13% higher sales in the first seven months than in the year-ago period, partly because of the...
Romanian Politicians Agree To Cut VAT To 20% Next Year, To 19% In 2017
Romania's parliamentary parties agreed Thursday in talks on the country's new tax code to lower the general value added tax from 24% to 20% as of 2016 and further to 19% as of 2017.
VAT Cash-Ins Up Only 1% In July
Romania’s cash-ins from value-added tax VAT was up 15.5% in January to July, at 34 billion lei, after the VAT rate was lowered to 9% on food as of June 1st, according to the Tax Authority AN...