Romania’s tax agency ANAF collected little over EUR 37 billion worth of taxes, in the first ten months of this year, up by 7.3% or EUR 2.5 billion compared to the same period of last year.

According to ANAF, this result reflects the efforts the agency made in fighting tax evasion and improving tax collection, which have compensated for the tax cuts implemented in the past year.

The fiscal revenues were also 1.2% higher than the latest projected level and 4.7% higher than the level projected at the beginning of this year.

Some 45% of the EUR 2.5 billion extra collected this year (compared to last year) came from the VAT, despite the VAT rate cut on food from 24% to 9% in June, which shows that the agency has been more efficient in fighting tax evasion this year, according to ANAF.

The state budget had revenues of EUR 26.3 billion, 11.3% higher than in the first ten months of 2014, as the VAT revenues went up by 11.8%, to EUR 10.8 billion. The revenues from the tax on company profits also went up by 11.2%, to EUR 2.94 billion, while the revenues from the tax on individual income increased by 13.2%, to EUR 4.87 billion.

editor@romania-insider.com