Rumuński Minister Finansów: przyspieszymy obniżkę VAT z 24% na 20% do tego roku
Romania May Push VAT Cut Forward to 2015 to Spur Consumption
(Bloomberg) -- Romania plans to lower the value-added tax rate by year-end “at the latest” to boost domestic consumption and economic growth, Finance Minister Darius Valcov said.
The government will cut VAT to 20 percent from 24 percent and to 9 percent for basic food products such as meat and vegetables once budget revenue increases sufficiently to allow a reduction without affecting the deficit target of 1.8 percent of gross domestic product, Valcov said Thursday. Romania may also trim some excise duties before a previously planned date of January next year, he said.
“When we have the extra revenue, we’ll put money aside and carry out the tax cuts a month later to give companies time to prepare,” Valcov said. While he put the immediate impact of the measures on the budget at 4.4 billion lei ($1.1 billion), he said the eventual fiscal loss may only be 2 billion lei as the VAT reduction helps discourage tax evasion.
After implementing one of the European Union’s harshest austerity drives, Romania plans to have the bloc’s most relaxed fiscal policy by 2018, according to Valcov. The government brought the budget shortfall back to 1.8 percent of GDP last year from 7.2 percent in 2009, using measures including cuts in state salaries, limits in public employment and tax increases.
//www.bloomberg.com/news/articles/2015-02-18/romania-plans-to-cut-taxes-from-2016-to-boost-economic-growth
(Bloomberg) -- Romania plans to lower the value-added tax rate by year-end “at the latest” to boost domestic consumption and economic growth, Finance Minister Darius Valcov said.
The government will cut VAT to 20 percent from 24 percent and to 9 percent for basic food products such as meat and vegetables once budget revenue increases sufficiently to allow a reduction without affecting the deficit target of 1.8 percent of gross domestic product, Valcov said Thursday. Romania may also trim some excise duties before a previously planned date of January next year, he said.
“When we have the extra revenue, we’ll put money aside and carry out the tax cuts a month later to give companies time to prepare,” Valcov said. While he put the immediate impact of the measures on the budget at 4.4 billion lei ($1.1 billion), he said the eventual fiscal loss may only be 2 billion lei as the VAT reduction helps discourage tax evasion.
After implementing one of the European Union’s harshest austerity drives, Romania plans to have the bloc’s most relaxed fiscal policy by 2018, according to Valcov. The government brought the budget shortfall back to 1.8 percent of GDP last year from 7.2 percent in 2009, using measures including cuts in state salaries, limits in public employment and tax increases.
//www.bloomberg.com/news/articles/2015-02-18/romania-plans-to-cut-taxes-from-2016-to-boost-economic-growth
