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Wednesday, August 24, 2005

VAT increase to 22% certain

Vice president of the Liberal Party (PNL) Dan Radu Rusanu stated at the National-Liberal Youth Summer Camp on Tuesday, that the increase in Value Added Tax (VAT) from 19% to 22% and the reduction of social contributions were two measures which would certainly apply starting January 1, 2006.

Rusanu added that without the additional revenues from VAT the reduction of social contributions would be impossible.

Rusanu said that the measure is fair, because everybody benefits from the reduction of social contributions while for the VAT increase, only those who bought more paid more VAT.

He also mentioned a proposal by the Conservative Party (PC) for a reduction in VAT for basic products which had been rejected by the coalition on the grounds that such reductions would not be translated to a lower selling price

Posted by Iulia Rasoiu : 8/24/2005 10:22:00 am