On 14 July 2022, the President signed a law entitled the Social Funding for Business Ventures and Borrower Assistance Act. In addition to establishing a “loan holiday” grace period, the new law also extends the application of reduced VAT rates on some goods until 31 October 2022.
Thus, the following reduced rates will continue in force until 31 October 2022:
- 0% on food and beverages (previously taxed at 5%), fertilizers, plant health products, garden soil and other agricultural production aids, natural gas;
- 5% on electric energy and heat energy;
- 8% on motor gasolines, motor oils, biocomponents serving as stand-alone fuels, and gas used as fuel for combustion engines.
The new law will enter into force on 31 July 2022.
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