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October 26, 2020

Business analysts think that VAT increase in 2010 is unavoidable

The economic crisis is cured with higher taxes for people and companies, according to Economist Intelligence Unit (EIU), the analysis division of the financial publication The Economist, cited by Realitatea.net According to EIU the advance of taxes in Romania is unavoidable next year to have the budget targets negotiated with IMF reached. The effect shall be noted in higher prices for market goods and services and in lower profits. Those that are primarily targeted are the Value Added Tax and the flat quota. Currently, VAT is 19 per cent and the flat quota is 16 per cent. Finance Ministry said that they were considering maintaining these taxes in 2010 at a similar level with 2009.

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