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TC - Club - Stiri - ROMANIAN BUSINESS NEWS
Stiri

Clubul de afaceri
Sloven - Roman
Splaiul Unirii, Nr. 12,
Bl. B6, Sc. 3, Et 5, Ap 91, Sector 4, București
Email: info@tc-club.ro

ROMANIAN BUSINESS NEWS
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- 18.01.2013

Agriculture Minister: VAT on bread could be lowered to 9 pc in H2 of 2013


Agriculture Minister Daniel Constantin stated on Tuesday that the measure of lowering the VAT on bread to 9 per cent could be tried out in the second half of 2013 and is not a topic on the agenda of the talks with the IMF in January, pointing out that the measure is meant to lower tax evasion.

"We did some calculations, we have some figures we will put up for debate. It's a fairly advanced discussion between the Agriculture Ministry and the Finance Ministry (...) the proposal is to introduce the experimental 9 per cent VAT sometime in 2013, on bread, throughout the whole chain of production, which means on cereals, on milling and on panification, in the case of products meant exclusively for the consumption of bread, because that is where a very high tax evasion is registered," Agriculture Minister Daniel Constantin pointed out.

He stated that tax evasion in this domain currently stands at 70 per cent and the lowering of the VAT would broaden the tax base and would make up for the sums that would no longer be collected at the state budget.

www.bucharestherald.com


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