ANAF head: Revenue to Romania’s budget up 1.3 pct in Q1, below government target

The president of the tax administration agency ANAF, Bogdan Stan, said that the revenue to the state budget grew by 1.3 percent in the first quarter of this year compared to the same period of last year, but below the target of the Ministry of Finance.

“We are still fighting to recover(…) the deficit from January, the deficit (…) triggered by the fact that the VAT rate of 24 percent recorded in December 2015 stood at 20 percent in December 2016. So this reduction by four percentage points impacted the collection rate of revenue on VAT,” said Stan.

Stan added that compared to the target of the Ministry of Finance, the revenues administered by ANAF were by 2 percent lower or RON 1.1 billion.