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Bucharest
October 23, 2021
BUSINESS

Romania has VAT collection rate of 54 pc

The collection rate of the Value Added Tax is 54 pc in Romania, compared to what it should collect in theory, Gabriel Biris, partner in the Biris Goran law firm announced Thursday in a press conference, quoted by Mediafax. The increase of the VAT and the cut of salaries in 2010 would not have been necessary if the fiscal administration achieved a VAT collection rate of 71 pc, similar to that of Bulgaria, he added. Under the agreement between Romanian authorities and IMF, the European Commission and the World Bank, ANAF will be reorganised during the next three years, and the activity of the 221 financial administrations will be concentrated in 8 regional departments and 47 local bureaux.

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