Romanian Fin Min: Govt Has No Intention To Reduce VAT On Food
Romanian Finance Minister Gheorghe Ialomitianu on Friday said the Government has no intention to reduce the VAT, including for food products, adding the reduction of social security contributions is the only option for further tax relaxation.
The minister stressed he does not want to end up facing the situation of Hungarian finance minister who had to increase the VAT to EU’s record high of 27%, a few months after cutting several direct taxes.
Agriculture Minister Valeriu Tabara on Thursday said Romania should reduce the VAT on farming products from 24% to 10%, to lower food prices and prevent tax evasion.
“A VAT of around 10% would eliminate tax evasion,” said Tabara, adding the Government should reconsider the level of VAT and excise duties on farming products.
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