Fiscal Council: Average VAT Quota Of 14% As Of Jan 1, 2016 Places Romania Below All CEECs

07.22.2015 By Ecaterina Craciun

Romania’s Fiscal Council said the cut in the standard VAT rate from 24% to 19% as of January 1, 2016 actually means a decrease of 8 percentage points, not five points, given that the average VAT quota per basket of consumer goods will reach 14%, from a maximum 22%.

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Keywords:: TAX CODE; , FISCAL COUNCIL; , VAT

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