The 9% VAT will lower food prices by 15% and reduce evasion

GOVERNANCE | VAT reduction from 24% to 9% for basic foods will lead to lower prices for those products by 15% and significantly reduce tax evasion, according to representatives of employers in the industry. “The first effect would be to increase budget revenues. It will reduce tax evasion bread from 60%, as is currently at 15-20%”, Aurel Popescu, president of Rompan bakery told the Mediafax. Continue reading