Romanian PM: 3% VAT slash possible

The Romanian state might either reduce the Value Added Tax (VAT) by up to 3% or lower it for particular product categories, mainly food. "A goal for 2015-2016 is to apply either a general reduction in VAT or to lower the VAT on product categories, particularly the agri-products," said Prime Minister Victor Ponta, cited by local Mediafax. He added that a decision on fiscal policy is due, and the Government could enforce the measure from January 1, 2016. In December last year, Darius Valcov, the Minister Delegate for Budget, said that the Romanian Government wants to reduce the VAT from 24% to 19% next year, at least for organic products. editor@romania-insider.com