Government supports VAT rate cut to 19% this year

Prime Minister Victor Ponta announced on June 21that the Government will support the general VAT rate cut from 24% to 19%, and not to 20% like previously announced. The cut should be applied before January 1, 2016. He also said that the drug prices will go down by 20% starting July 1. Moreover, Romania registers second lowest prices in EU for consumer goods and services. Bulgaria recorded the lowest prices, with 48% of the EU average, whereas Denmark saw the highest prices in the EU, at 138% of the EU average, according to EU’s statistical office Eurostat. Source: romania-insider.comTags: , ,