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August 2, 2021

Romania should keep reducing VAT for other categories of agrifood products

Romania can and must continue reducing VAT for other categories of agrifood products, namely fruit, vegetables, and meat, Prime Minister Victor Ponta said in a press conference at the Ministry of Agriculture on Wednesday.
He claimed that reducing the VAT for bread was a success, which justifies taking further steps of cutting this. Realistic calculations are necessary, as an analysis of the Ministry of Finance showed that the lower VAT for bread resulted in losses over several months, but proper application eventually resulted in a recovery of collection.
‘We want to make this VAT cut. I do not want to assume it in the name of the new Government, I only want to say that I believe it’s a good thing to continue, but the responsibility will lie with the new government’, said the Prime Minister.
Asked whether the VAT reduction would target both the fruit-vegetables and meat sectors at once, Ponta replied: ‘Let’s see what we can do realistically. We are speaking of a strategy for development in these domains that would have the same target as in the bakery sector: reducing tax evasion, increasing taxation of both employees and production. It’s a good thing that we must keep doing. We will be able to provide additional details as we are building the new budget’, he emphasized.

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