"There is already a CAEN code, 1071, if I'm not mistaken, to which reduced VAT will apply, but the code will exempt fresh pastries, so cake and other products that fall under this category keep the 24% VAT. The category of exempt products include first bread of all categories, secondly bagels, mini-baguettes, croissants, so products that are not classified as fresh, "said Constantine, according to Mediafax.
The Government approved on Tuesday, the reduction of VAT on bread to 9% from September 1, the negative impact of the measure will be offset by raising excise duties on alcohol and the introduction of a duty on luxury goods.
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