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Romania will retain the 19% standard VAT rate but eliminate most reduced rates in August, keeping lower rates only for food and medicines as part of a fiscal consolidation compromise.
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The final decision on raising the standard VAT to 21% hinges on an October 15 evaluation of the fiscal impact of current measures, including revised VAT brackets and excise duty increases.
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Additional fiscal reforms under consideration include higher tobacco excise, gambling taxes, and spending cuts, aimed at reducing the budget deficit ahead of Romania’s next EU Excessive Deficit Procedure update.
Source: www.romania-insider.com
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