Romania Could Cut VAT For Food After ’10 – Econ Fin Min

The VAT cut for certain products, such as basic foods, will be possible after 2010, once inflationist pressure eases and Romania gets closer to the Euro area, said Romanian economy and finance minister Varujan Vosganian.

2 views

Imaginea articolului Romania Could Cut VAT For Food After ’10 – Econ Fin Min

Romanian VAT Cut Could Happen After ’10 – Econ Fin Min

The VAT cut will not trigger stabilization in prices and it will not have favorable effects on consumers, since there will be "a purchase power transfer from budget to owners," said Vosganian.

"We need to wait until inflation enters the 3% area," said Vosganian.

The proposition for VAT cut regarding basic foods is one of 1,200 amendments brought to the draft budget for 2008. Another amendment targets the hike of allocations for agriculture, by cu RON1.2 billion. The additional sums for this area would come from external funding, according to Vosganian.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.