The reduced VAT rates of 9% and 5% have remained unmodified,with the Government only deciding a five per cent rise of thestandard 19% value added tax rate.
"The standard rate is 24% and applies to the tax base on taxableoperations not exempt from the tax or which are not included in thelower-tax categories," mentions the emergency ordinance publishedyesterday in the Official Gazette, which also includes othermeasures whereby the state seeks to collect higher revenues to thebudget.
The lower 9% rate applies for human and veterinary drugs,orthopaedic products and prostheses, dental ones excepted. The lowVAT also applies to schoolbooks, books, newspapers and magazines.The 9% rate is levied on services allowing access to castles,museums, historical monuments, botanical gardens, fairs,exhibitions, cinemas, hotel accommodation, as well.
At the end of December 2008 the authorities decided to levy alower, 5% VAT on new homes, in order to support the real estatesector.
The 5% VAT is levied on delivering homes with a usable area of120 square metres at the most, home annexes excluded, whose value(the plot of land included), does not exceed 380,000 RON, VATexcluded.
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