VAT is reduced by 4% from January 1 and you probably already know this, non-food products will be subject to a VAT of only 20% instead of 24% practiced until now in Romania.
4% VAT reduction it applies from tonight and some online stores have already announced that they will close their websites to apply the VAT reduction from 24% to 20% for all the products available in their offer.
The same thing will happen not only in online stores, but also in stores all over the country, where the price of products should drop slightly following this change, or at least this should be the logical reaction of all merchants, even if not in all cases will be like this.
The calculation differs depending on the value of the product you buy, but in general all the products that had a VAT of 24% until today should be cheaper starting tomorrow, that is if there will not be more greedy traders who will not reduce the prices.
eMAG has reduced the VAT on products by 4% already, Elefant is doing the same this morning, other online stores having similar practices now or starting tomorrow, everyone preparing to offer customers lower prices for products.
Having said that, the 4% VAT reduction for non-food products will bring more money into our pockets and you will feel this throughout the year, and as you buy more and more you will see that you will have more and more money left for other expenses.
Separately from the reduction for non-food products, there will also be a 4% VAT reduction for publications printed on paper, they will have a VAT of only 5% starting from January 1.
