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January 28, 2021

Geoana: PSRO suggests VAT cut to 19pct; 5-pct cut in social security contributions equally distributed

The Romanian Social Party (PSRO) is suggesting a cut in the Value-Added Tax from 24 percent to 19 percent, because at a time of economic growth the situation before the VAT was increased from 19 percent to 24 percent should be reached, PSRO national leader Mircea Geoana said Friday.
“PSRO is suggesting a cut to 19 percent in the VAT, because nobody mentioned gradualism when the VAT was increased from 19 percent to 24 percent. It was a shock, a brutal corrective measure, and that is why at a time of economic growth it should return to the ante-factum situation,” Geoana wrote in a Facebook post in Romanian.
He added that the 5-percent cut in the social security contribution (CAS) be equally distributed 2.5 percent on the employers and 2.5 percent on the employees in the case of the 5-percet cut in CAS because Romania has some of the highest labour taxation levels in Europe.
‘At the same time we suggest that the provision under which 5.5 percent would be tax deductible for employees and 10.5 percent for pensioners conducting independent business be discarded, because it is not normal for them to distribute with one hand and take away with two,” said Geoana.

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