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Fin Min claims thousands of companies want to join the split VAT system as of October 1

Finance Minister Ionut Misa claims that thousands of companies want to join the split VAT system as of October 1, when it becomes optional, adding that the government has money and there is no need for a loan from the IMF.

In an interview granted to ‘Ziarul financiar’ Ionut Misa says thousands of companies have applied, tempted by facilities, to the split VAT system as of October 1. They will receive a 5% tax deduction. The system becomes compulsory as of January 1, 2018.

“Honest companies are attracted by the facility of 5% tax deduction. The amount covers the expenditures for changing the IT systems,” the Finance Minister said. “Large companies, with no late payments and which pay the profit tax, are the first ones to turn to the split VAT,” he added.

Referring to the budget rectification, he said the budget deficit will be of 2.95% of the GDP. Misa criticized the Transport Ministry for poor performance in terms of investments so “its budget will be cut.”

Fin Min Misa said, about the situation at the Defence Ministry, that the change operated is that the food norm is not paid in advance anymore.

“We have money. Not even for a second we have talked with the IMF delegation about a loan,” the Finance Minister said.

 

About Valeriu Lazar