Romanian Tax Authority increases collected revenues by 7.2%

Romania’s Tax Authority – ANAF collected revenues of EUR 4.4 billion in July, up by 7.2% compared to the same month last year. The VAT revenues increased by 1% to over EUR 1 billion, even if the VAT rate of food went down from 24% to 9% starting June 1. In the first seven months of the year, ANAF collected total budget revenues of EUR 26.2 billion, up by 8.5% year-on-year and up over EUR 1 billion compared to the estimated revenues in the budget law. The results were positive, despite several fiscal measures with a negative impact on tax collection, such as the cut in social contributions by 5%, which was enforced in October 2014, according to ANAF. Romania collects higher budget revenues in first half of the year editor@romania-insider.com