Romania’s Government proposes 9 pct VAT rate for farming operations

The PM Dacian Ciolos has announced on Tuesday the Government’s plan to cut the VAT rate for farming operations from 20 percent to 9 percent starting August 1.

 „We hope that the Ministry of Finance came with proposals that we discussed last year, it’s about proposals of tax incentives without significantly affecting the state budget, might bring the stimulation of economic growth and the development of the productive or innovative activities. I am thinking of measures regarding the farming sector. We want to propose that starting with August 1, the VAT for farming operations to drop from 20 percent to 9 percent,” said Ciolos.

He also hopes that this measure would have positive results on the prices that the suppliers of farming operations would propose to the farmers.

Romania has in the present a VAT rate of 9 percent for food.

Georgiana Bendre

Read more about

Offline vs. Online Wallet Apps: Finding The Right Balance

read more