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Romanian Senate approves ordinance increasing VAT to 24%

de V.O.
Marţi, 24 august 2010, 20:17 English | Business

The Romanian Senate approved on Tuesday a government emergency ordinance increasing VAT from 19% to 24%. The ordinance was passed with 64 votes in favor and 50 against.

The ordinance will be submitted for a final vote in the House of Deputies.

According to news agency Agerpres, a series of amendments proposed by the budget-finance commission were rejected during the Tuesday session. Commission members had proposed a return of VAT to 19% and in the case of basic food products be reduced to 5%.

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