Romanian Govt To Keep VAT At 19%, Flat Tax At 16%

Romania’s future government will keep the flat tax at 16% and the value added tax (VAT) at 19% in next year’s state budget, which is built on a deficit of 5.9% of gross domestic product and economic growth of 1.3%, Prime Minister-designate Emil Boc said Sunday.

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Boc said the government will approve the 2010 state budget next week and Parliament will convene an extraordinary session by mid-January to approve it.

Boc added other goals in the governing program are the application of the results of a national referendum held in November, which entails the reduction of the Parliament to a single chamber and a maximum 300 lawmakers from the current 471.

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