Romania cuts VAT rate on bread
- Mar 28, 2013 | Richard Asquith
The Romanian government has requested from the bail-out 'Troika' (the EU, ECB and IMF) that it be permitted to reduce the Value Added Tax rate on bread to 9%.
If permitted, the new rate will take affect from 1 July.
Romania VAT was raised to 24% in 2010 as its revenues fell amidst the worsening European economic situation.
VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara