The Competition Council will keep an eye on companies thatamplify the impact of the VAT hike by raising prices by much morethan would have been required to cover the tax increase. This isthe message that Bogdan Chiritoiu, chairman of the CompetitionCouncil, sends to players on the market, in an interview toZF.
Because the market is free, the Competition Council cannot penalisea company for adjusting prices by a higher margin than the VATincrease, it can only act if it uncovers an agreement between thecompany and its competitors to fix price increases. Fines undersuch circumstances can amount to up to 10% of the turnover for eachcompany involved.
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