VAT
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Government Approves 9% VAT On Tourism Services
Romania's Governments approved Wednesday a VAST rate of 9% instead of 24% for tourist accommodation services.
DTZ: Lower VAT On Romanian Residential Market Would Bring More Money To State Budget
A lower value added tax on the Romanian residential market would bring more money to the state budget than a reduced social security tax, according to representatives of real estate consulti...
Romania To Lower VAT On All-Inclusive Tourist Packages To 9% From 24%
The sales tax will be lowered from 24% to 9% for all-inclusive touristy packages, Prime Minister Victor Ponta said Tuesday after talks with IMF and EU officials.
FrieslandCampina: Lower VAT On Food Would Help Economy
A lower VAT on dairy products, meat and other foods would have a positive impact on the local economy, since Romanians spend as much as 50% of their income on food, says Cornel Caramizaru, s...
Romania Had Biggest VAT Gap In EU In 2012 - EC Report
An estimated EUR177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the European Commission, of which Rom...
Economy Minister Says VAT Of 19-20% Would Be Enough
A sales tax of 19-20% would be sufficient but that depends on the level of collection of other taxes, Romanian Economy Minister Constantin Nita said Wednesday at a conference held by Ziarul...
Fiscal Council Says Government's VAT Collection Estimate Of Extra RON544.8M Unrealistic
Romania's Fiscal Council on Tuesday said the government’s revised estimate for VAT collections is unrealistic, considering collections in July and August, adding the more cautious approach w...
Finance Ministry And Rompan Estimate Tax Evasion Decline After VAT Cut On Bread At RON300M And RON200M
Romania’s Finance Ministry estimates the cut in the value added tax on bread to 9% from 24% starting September 1, 2013 led to a decline of RON300 million in tax evasion, while the associatio...
Rompan: VAT Cut On Bread To 9% Led To 20% Decline In Tax Evasion Within A Year
The cut in the value added tax in the bread industry, to 9% from 24%, starting September 2013, triggered a 20% decline in tax evasion, according to the study “The Impact Of Reducing VAT In T...