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Gov't decided to cut VAT on traditional products to 5 pct


The government has decided to reduce the VAT on traditional products to 5 percent, Finance Minister Eugen Teodorovici announced on Tuesday.

According to the him, this was an awaited for regulatory act that benefits both the citizens and the economy overall.

"In order to encourage the consumption of healthy food and give a boost to the sales of Romanian traditional, mountain, ecological, bio or other products authorized by the Ministry of Agriculture and Rural Development, the government has decided to reduce to 5 percent the VAT rate for the delivery of foods - beverages included, yet with the exception of alcoholic beverages - intended for human and animal consumption, livestock and poultry of domestic species, seeds, plants and ingredients used in the preparation of foodstuffs, products used to supplement or replace food," Teodorovici explained at the Victoria Palace at the end of the government meeting.