Romania's Senate passes VAT drop for agri products

The Romanian Senate yesterday approved the draft law that was supposed to lift the VAT for house sales and advertising, but without these two exemptions. Social-Democratic Party (PSD) leader Liviu Dragnea initiated the law. In the approved form, the bill only provided the VAT reduction to 5% for products used in agriculture, reports local Profit.ro. Dragnea confirmed three weeks ago that the amendments to lift the VAT for house sales and advertising would be removed. “Those in the advertising and the media said that this measure, although could have good effects, could also have perverse effects, because they’d have to wait a lot for the VAT reimbursement, and so would those in the construction area,” Dragnea said. editor@romania-insider.com