Tag Archives: VAT

The New Eastern Europe

The Romanian govermnent has approved the reduction of the tax rate on dividends from 16% to 5%. For three years foreign investors who were not previously affiliated with the local market and invest more than the equivalent of 3,000 EUR will be exempt from tax. The Romanian governent also reduced the VAT rate to water for […]

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Romania’s budget surplus reaches 1.06% of GDP

Romania recorded a budget surplus of EUR 1.6 billion in the first seven months of the year, namely 1.06% of the GDP, compared to a deficit of EUR 227 million recorded in the same period last year. The budget’s revenues amounted to almost EUR 30 billion, which represented 19% of the GDP. They increased by […]

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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 […]

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