Several EU countries cut taxes to offset rising fuel prices; Romania still weighing options
Tamara Ceaikovski
Seven EU countries, as well as other European nations outside the Union, have already decided to implement substantial tax cuts—excise taxes and VAT—to limit the impact of the fuel crisis on their economies and consumers. Italy, Portugal, Slovenia, Hungary, and Spain were the first EU member states to decide to reduce excise taxes on petroleum products, and Ireland has recently joined them. In addition, Spain has also reduced the VAT rate on gasoline and diesel from 21% to 10%, shows an
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