“We took this exceptional measure in the last day of April as we are positive that the lower price resulted from the VAT cut is a great decision for retail, a decision that will not only allow the purchase of higher quality products, but will also boost sales in general,” Daniel Cirstea, Profi general manager, stated.
The food items whose VAT has already been cut are marked with special yellow labels.
Romania will cut the VAT for all food products, including non-alcoholic drinks and restaurant services, as of June. The rate will be reduced to 9% from 24% currently.
Profi opened 71 new stores in 2014 and targets to keep at least the same expansion rate this year, planning to end 2015 with 350 units.