Romania's budget revenues from VAT decline even before cut

Romania’s budget revenues from the VAT exceeded EUR 11.3 billion last year, reaching 53.8% of the total state budget revenues. However, they went down by 1.8% compared to the previous year. The VAT revenues represented 7.6% of the GDP. The revenues from income taxes totaled EUR 2.7 billion, which represented 12.9% of the total budget revenues and 1.8% of the GDP. Compared to 2013, the income tax revenues went up by 11.9%. Revenues from tax on profits transferred by economic agents went up by 9.9% last year, due to an increase in the industry’s turnover. editor@romania-insider.com