The Romanian Government is planning to cut the value-added tax rate by 3% from 2016.
The announcement marks a part reversal of the VAT hike introduced in 2010, to 24 percent from 19 percent. Romania’s Prime Minister Victor Ponta said that either the main rate will fall by three percent to 21%, or the scope of the 9% reduced rate will be expanded to include a greater number of basic items.
The reduced rate would be effective from January 2016.
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