VAT cut on food brought 400 extra million RON to the state budget
The VAT cut on food down to 9% has brought revenues 400 million RON higher than projected since June 1st whereas the half-billion RON budgetary deficit accounting for this tax reduction estimated by the Ministry of Finance has now been compensated, according to an announcement made today by minister Eugen Teodorovici. He also believes that similar measures included in the new Fiscal Code could have the same positive effects. Finance Minister has stressed out that financial resources considered for the first budget correction this year will be allotted for achievable objectives so that the money be no longer blocked in those areas where it cannot be spent. The same principle will apply in October, on the second budget correction in 2015.
Number of companies facing insolvency drops compared to last year
The number of companies facing insolvency in the first two quarters has dropped compared to the same period last year. The National Trade Register Office has informed that approximately 5,700 firms have asked to enter insolvency in the first six months of 2015. Most companies are registered in Bucharest, Bihor and Timis counties.
Fiscal Antifraud Directorate General confirms irregularities regarding pharmaceutical companies
Fiscal Antifraud Directorate General has reported many irregularities for 2013 and 2014, regarding acquisitions made by pharmaceutical producers or their authorized dealers. This announcement follows house-searches made by DNA prosecutors at several companies’ headquarters. The companies are facing corruption charges regarding rewards that doctors seem to have received for prescribing their most expensive medical products. The rewards consisted in vacations and other tourist packages that used to be reimbursed illegally being registered as participations to medical events abroad whereas doctors made private trips on these expenses.
Romania’s FM welcomed Moldova’s new Cabinet
The Foreign Ministry has welcomed the other day Republic of Moldova’s new Cabinet and pointed out that this is a sign of responsibility proven by pro-European political forces against challenges in the neighbouring state. The chief of Romanian diplomacy, Bogdan Aurescu, has reiterated that our country will continue to support firmly and unconditionally Moldova’s European path, which Romanian trusts it will pursue by democratic reforms and macroeconomical measures for reaching stability. PM-designate Valeriu Streleţ and his government team has obtained on Thursday the vote of confidence from the Parliament, with full support from all deputies of the new pro-European coalition.
Avicii, Armin van Buuren and David Guetta transform Cluj-Napoca in European Youth Capital
Romania’s most expected musical event – Untold Festival – continues in Cluj Napoca until Sunday. 250.000 spectators are expected to attend the concerts which will take place on 8 stages prepared in the city. Today, the band Avicii is the star of the evening, whilst tomorrow the stage will be taken by DJ Armin van Buuren. The final day of the festival is to be animated by David Guetta. Yesterday, on the first day of the festival, Vegas&Like Mike, ATB şi Fedde le Grand evolved in front of Romanian spectators.The UNTOLD festival is organized within Cluj Napoca’s 2015 program: European Youth Capital.
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