In July alone, the cashed-in VAT rate was up 1% compared with the same month in 2014, which sets below the nominal gross domestic product GDP growth of 5% in 2015 compared with 2014.
The decrease of the VAT cash-in growth pace may lead to an 8% or 9% overall increase in 2015, which sets at half of the value registered in the first semester. Thus, the budget cash-ins will be lower than expected and will reduce the chance for a further VAT cut.
ANAF announced Monday it cashed in almost RON116 billion to the state budget in the first semester, 8.5% higher in nominal terms than the same period a year ago.
(English version by Manuela Panescu)