Romanian PM says country will keep flat tax, VAT at current level this year

Romania's Government will keep the flat tax and VAT at their current level this year, and will consider making changes to these taxes only further in the future, Prime Minister Emil Boc has said. Boc argued that Romania's state budget for this year uses a flat tax of 16 percent and a VAT of 24 percent, as agreed with the European Commission and the International Monetary Fund. Democratic Liberal Party vice-president Adriean Videanu said recently that the ruling coalition will discuss an economic measure package that may include reducing the flat tax and simplifying fiscality. Romania increased the VAT from 19 to 24 percent last year, with a short time frame between the announcement and the implementation of the change. Mediafax