Romanian Senate rejects presidential veto

The Romanian Senate has rejected a presidential request for reexamination of the law regulating the value added tax (VAT). The bill in question foresees a lowering of the VAT on basic food products to 5 per cent. It was introduced by the Social Democrats last October and received broad support from parties and several government ministers. President Traian Basescu had vetoed it saying that a VAT decrease would leed to revenue losses for the state.

Leave a Reply

Your email address will not be published. Required fields are marked *