Lowering VAT On Bread Not Feasible As Romania Lacks Revenues To Offset Loss

Update 03.31.2013 By Ioana Tudor

Reducing the value added tax on bread from 24% to 9% starting 2013 would have a significant impact on the state budget and, although in theory the measure may curb tax evasion in the bread industry, Romania must find other revenue resource to compensate for the loss.

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Keywords:
VAT
, BREAD
, DEFICIT