Wednesday, July 27, 2022, 11:16 p.m
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3819 readings
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In 2022, the Romanians had to face increases chained to almost all goods and services. The prices of fuels, consumer foods, but especially electricity and natural gas bills have risen significantly.
2023 will also begin with a new wave of price increases, says fiscal analyst Robert Croitoru, in an interview for Ziare.com.
VAT in Horeca will increase from 5 to 9%, VAT on sugary drinks will go from 9 to 19%, and dividend tax will rise from 5 to 8%.
VAT changes
“From August 1, excise duties will increase in price, and VAT will change on January 1. However, there are several factors that make up the price increases, in addition to VAT and these excise duties.
There are price increases due to inflation, changes in the exchange rate, the price of fuel, the price of labor – all of these are included in the final sale price”, explains the fiscal analyst.
VAT increase: from 5 to 9%
“In the first phase, there will be a clear increase in price by 4 percentage points – which will even reach 5. And here I am referring to the VAT. Because the VAT will increase from 5 to 9 percent,” says Robert Croitoru.
Restaurant owners are preparing for price increases
“Many owners will probably adapt and raise prices much faster. Because this is also a marketing technique, so you don’t inflate prices then.
You increase the prices gradually and adjust them to some estimates. So that when the client comes to you at the restaurant, he won’t feel a difference of 30 lei, for example,” analyzes the specialist.
Where do the price increases come from?
“As a direct implication at the present time we have excise taxes and the fact that the salaries of those who work part-time are increased. If in certain restaurants they work part-time, those people will be paid the full salary. Their salary will also be reflected in the bill,” says the fiscal analyst.
“Indirect increases relate to current market conditions, through the lens of inflation and fuel and energy prices. And all of that is reflected directly in the note as well.
From January 1, there will be even more direct factors that will push prices up. The VAT is increased from 5 to 9%. Then also these tax changes (dividend price increase, i.e. dividend tax increase from 5% to 8%) – and these cost increases will also be reflected in the final grade.
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