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Romania To Cut VAT To 19% In 2017

Romania is on course to reduce its VAT rate from 20% to 19% effective from 1st January 2017.

This rate cut follows the initial 2016 reduction from 24% to 20%. Originally Romania increased VAT from 19% to 24% in 2010 during the global financial crisis.

The Romanian economy has continued to perform strongly this year upping its real 2016 growth forecast from 4.2% to 5.2%.