Romania's Competition Council: Shelf price to reflect VAT cut

Products’ shelf price will reflect the VAT cut because of the strong competition among retailers in Romania, said Bogdan Chiritoiu, president of the Competition Council. The local competition is higher than in other EU member states. The Competition Council will try to identify any illegal behavior and any agreements among retailers, which could hinder price reductions after the VAT cut. “We have a monitoring system for what happens in the market, to see how prices have evolved since the VAT cut has been announced and the subsequent impact on the shelf prices,” said Chiritoiu, cited by local Agerpres. The Competition Council issued last year fines of EUR 35 million for some retailers and their suppliers. “I am convinced that this experience will deter those that don’t want to act right,” he added. editor@romania-insider.com