Romania Will Lower VAT On Bread In September, Introduce Excise Duties On Luxury Products

Update 07.29.2013 By Ioana Tudor

Romania will lower the value added tax on bread to 9% from 24% on September 1 and the negative impact of the measure, estimated at about 100 million lei (EUR22.7 million), will be offset by increasing excise duties on alcohol and by introducing taxes on luxury goods.

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