Retail&Consumer
IMF Says Lower Sales Tax On Bread Is Temporary
Romanian authorities will assess the impact of lowering the sales tax on bread from 24% to 9% and the measure is temporary, depending on the results it produces in fighting tax evasion in th...
Ice Cream Producer: Romanians Are Buying Ice Cream Less Often
The ice cream market is suffering from the continued purchasing power decline in 2013 and the lower temperatures in June and the first part of July did not help, either, says ice cream maker...
Government Approves Lowering VAT On Bread To 9%
Romania’s government approved Tuesday lowering the value added tax on bread from 24% to 9% starting September 1.
PwC: Lowering VAT On Bread To Reduce Tax Evasion If Complemented By Other Measures
Lowering the value added tax on bread from 24% from 9% is an important step in reducing tax evasion in the bread industry and the measure should also be applied to meat, milk, sugar and vege...
Romania’s Antitrust Body Approves Takeover Of Real Hypermarkets By Auchan
Romania’s antitrust authority has approved the takeover of 20 Real hypermarkets by French retailer Auchan, which expanded its local network to 31 units.
Higher Excise Rates On Alcohol To Increase Alcoholic Drink Prices By Up To 40% - Association
Raising excise duties on alcohol will increase alcoholic drink prices by 25% to 40% and tax evasion will skyrocket to 90% from about 70% currently, according to Romulus Dascalu, president of...
Kaufland Opens Third Hypermarket In Ploiesti In August
Kaufland Romania will open its third hypermarket in Ploiesti, southern Romania, mid-August, and plans to open three or four more stores this year, with an average investment of EUR6-9 millio...
Mega Image To Open Two New Stores In Romania Wednesday
Retailer Mega Image, part of Belgian group Delhaize, will open two Shop&Go stores Wednesday, in capital city Bucharest and Pitesti, expanding its local network to 238 units.
Bankrupt Armonia Braila Mall Sale Price Lowered By 30% Again, To EUR10M
Creditors of Bankrupt shopping center Armonia Mall in Braila, eastern Romania, have lowered the mall’s sale price by another 30%, to EUR10 million, net of VAT, and expect bids by August 20.