Romanian PM: Tax authority increases collection by EUR 250 mln

Romania’s tax authority ANAF has increased its collected revenues by EUR 250 million in August compared to the same month last year, despite the VAT cut on food and the increase in social contributions paid to private pension funds, said Prime Minister Victor Ponta. ANAF collected EUR 29.2 billion in the first eight months of the year, compared to EUR 27 billion during the same period last year. The Prime Minister said that by presenting these figures he wanted to show that the Romanian economy reacted to these two stimuli: a controlled reduction of taxes and the effective work of ANAF. In June, the Government cut the VAT rate on food from 24% to 9%. Ponta said that the revenues from the VAT increased by some EUR 90 million in August compared to the same month of 2014, to EUR 985 million. Romania’s PM says the lower VAT rate increased the budget revenues Romania’s budget surplus reaches 1.06% of GDP editor@romania-insider.com