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Romania plans big VAT rise

RomaniaPosted by Chambers of Commerce Sweden - Southeast Europe Tue, June 29, 2010 20:14:32

Romania plans to raise value-added tax (VAT) to 24% in an effort to curb the country's deficit, the prime minister has said. Emil Boc said the 5% rise was an attempt to guarantee a $20bn International Monetary Fund (IMF) loan. The move comes after Romania's top court ruled out plans to cut pensions, prompting the IMF to delay key talks. Read the full BBC article here.

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