Romania’s Tax Agency ANAF collected EUR 10.6 billion in the first quarter of the year, up 10.89% year-on-year.

Collected revenues increased on the back of the social contributions cut and the introduction of the tax exemption for reinvested profit.

Measures to reduce tax evasion also triggered the increase in VAT collection, according to ANAF.

The tax authority managed to exceed its revenue collection target by 9.15 percentage points.

ANAF collected some EUR 706 million in profit tax, down 0.66% on 2014. It also raised EUR 1.4 billion in income tax, up 14.47% over 2014.

editor@romania-insider.com