Romania's tax agency collects 8% more revenues in 2017

Romania’s tax agency ANAF collected revenues worth almost RON 215 billion (EUR 47 billion), 7.8% higher compared to 2016, the institution announced on Friday, January 19. The collected taxes were also higher than the revenue plan for 2017, of RON 214.37 billion, according to ANAF. “This sum is the highest annual collection ANAF has made since it was founded, in 2003. By comparison, in 2017, the collected revenues were RON 15.5 billion (7.8%) higher than in 2016,” reads the ANAF release. The higher tax collection was possible due to several measures for improving voluntary conformation. The total collected VAT in 2017 amounted to RON 68.08 billion (EUR 14.9 billion), up by 2.2% compared to 2016, while the net VAT that went to the state budget (after compensations and reimbursements) was RON 53.43 billion (EUR 11.72 billion), 3.6% higher than in the previous year. The VAT rate dropped from 20% to 19% in February 2017 but the retail sales went up by 10.3% year-on-year in the first 11 months of 2017. editor@romania-insider.com