Romania hikes excises to make up for sharp reduction of VAT on bread
Romania will introduce as of September 1 new taxes and increase part of the existing ones in order to counter-balance the abrupt decrease of VAT on bread, the ministry of finance announced on July 29 as it voiced a measure which the government has been floating for months, but which could not materialise without the IMF’s consent.
The new excises concern gold and platinum jewellery, except wedding rings, with taxes coming to 1 euro a gram for 14K gold and two euro a gram for gold over 14K. Moreover, for natural furs under 1500 euro a 50 euro excise will be payable, this going up to 1200 euro for furs costing more than 6000 euro.
New and second-hand cars with engines over 3.000 square centimeters will be additionally excised one euro a cm, while firearms will be gradually taxed, from 50 euro for the under 500 euro guns up to 1500 euro for those costing more than 6000 euro.
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