Romania plans to decrease VAT rate in 2016
The Romanian government is planning on decreasing the VAT rate by 3% beginning in 2016. In 2010 there was a VAT increase from 19% to 24%. The Prime Minister of Romania, Victor Ponta has said that there are two options. One is that the VAT rate will decrease by 3% to 21% and the second options is that the reduced rate of 9% will be expanded to include a greater number of basic items.
This tax decrease will take effect just before the Romanian elections in January 2016.