THE VAT AND THE EXCISE DUTIES- COMPARATIVE ANALYSIS ROMANIA – EUROPEAN UNION

Abstract

The economic crisis that began in 2007 led to lower global economic growth, which generated lower revenues, including the decrease of the taxes. At EU level, at the beginning of the financial crisis the share of taxes in GDP was 39.3% in 2008, recorded a downward trend in 2009 and 2010, increasing to 38.8% in 2011. In Romania the share of tax revenues in GDP has experienced a steady upward trend, from 17, 72% in 2009 to 19.41% in 2012. The evolution of VAT and of the excise duties is analyzed in this article, starting from the official data of the European Union, focusing on the Romanian official statistics for the period 2008-2012, which I processed and interpreted. The analysis shows that in Romania, the VAT and the excise duties had a growth of the absolute values between 2008 - 2012 and also, an increase of their share in GDP. At European level there is an increase in the share of VAT in GDP by 0.4 percentage points in 2009-2011, reaching 7.1%, and a relative increase in excise duties (0.1 pp) and indirect taxes (+ 0.5 pp)

Keywords

• Fiscal policy
• VAT
• excise duties
• economic crisis