Government proposes 12% tax on bank interest and higher VAT for restaurants
The government proposes taxing bank deposit interest at 12% and raising the reduced VAT for restaurants and cafes from 8% to 12%.
Written later, from the reports of that day.
What it means for you
If you have savings in a bank, the tax on interest would rise from 6% to 12%. On 10,000 lei of interest a year, you would pay 1,200 lei instead of 600. Parliament still has to adopt the proposals.
What happened
The government supports several tax changes, according to an opinion published on October 19. The measures are not yet in force and will be examined in the legislative process. The document gives no estimate of the impact on prices paid by consumers.
In short
- The tax on deposit interest would rise from 6% to 12%.
- The reduced VAT for HoReCa would rise from 8% to 12%.
- Excise duty on diesel would rise by about 73% in 2027-2029 compared with 2026.
- The annual personal exemption would rise from 34,620 lei to 46,680 lei.
- The Tax Service could collect debts directly from citizens' bank accounts.
Original sources
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