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Global Economic Instability Highlights Urgency of 9% VAT Rate – Clendennen
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8 Articles
Among the tax measures announced Wednesdays by Prime Minister Ilie Bolojan is the increase in VAT and alcohol, fuel and stamps. This will mean, of course, higher prices. Here, below, how much it will cost gasoline, engine and many more. The article What will cost fuels in August, after they grow TV and steel.
Prime Minister Ilie Bolojan announced Wednesday the first tax package, which will be adopted by taking the government's response to the budget deficit. The most important measure is related to the VAT rate, which will suffer significant changes: the 19% rate will increase by 21% and the 5% rate by 11%. The premium announced an increase of 10% in fuel, cigarettes and alcohol, but also CASS on pensions over 3,000.
Global economic instability highlights urgency of 9% VAT rate – Clendennen
The introduction of a 9% VAT rate for businesses must happen in the upcoming October Budget to offset the risks posed by global economic instability, according to a Fine Gael Deputy. Deputy John Clendennen said securing the reduced VAT rate for the hospitality sector is more important than ever amid the threat of US tariffs […] The post Global economic instability highlights urgency of 9% VAT rate – Clendennen appeared first on Fine Gael.
Under heavy financial pressure and with a low economy, Prime Minister Ilie Bolojan announces that only two VAT rates will remain. Alcohol and fuel access could be increased, and the number of people who will contribute to health will increase.
The increase in excise duties by 10% and the increase in VAT from 19% to 21% will, starting in August, result in more than 40 dollars per litre in fuel, which means an average increase of approximately 6% at current prices. Thus, drivers will need to take more money out of their pockets. In addition to [...]
Harder times are coming than we expected. Prime Minister Ilie Bolojan officially announced austerity measures: we will have two VAT rates, both higher than currently: 21 percent for most products and services and 11 percent for food and medicine. And that's not all! Pensions higher than 3,000 lei will be cut. Specialists warn: the burden falls on the people again, while the "fat state" does not enter the regime.
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