Romania's Tax Agency collects EUR 2.4 bln more in the first nine months

Romania’s Tax Agency ANAF collected revenues of EUR 33.1 billion in the first nine months of this year, up by EUR 2.4 billion compared to the same period last year. Only the social insurance budget recorded a decrease compared to 2014, following the social contribution (CAS) rate cut in October 2014. Of the additional amount collected compared to 2014, the extra revenues from VAT represented almost half. The ANAF collected EUR 9.6 billion from the VAT, EUR 1.07 billion (or 12.5%) more than in the first nine months of 2014. However, the VAT revenues were slightly lower in September compared to the same month of last year, as the Government cut the VAT rate on food from 24% to 9% starting June 1 this year. The revenues from the tax on profit in the first nine months were some EUR 2.3 billion, up 10.8% over the same period in 2014, while the individual income tax brought the state some EUR 4.4 billion in the first nine months of the year, up by 12.5% compared to this period in 2014. The state also collected about EUR 4.3 billion from excise duties, up by 8.8%. editor@romania-insider.com