Archive » July 2010 » 18 July 2010 The english news from 18 July 2010
The minimum tax will be eliminated come fall. Real lump sum taxation will then be introduced
The tax burden of companies will get a bit lighter come fall, once the minimum tax is eliminated, promise both Prime Minister Emil Boc and Minister of the Economy, Adriean Videanu. They have yet to mention if the current tax will be replaced with lump sum taxation. At the same time, the Prime Minister has announced that the flat tax rate will not be changed, because progressive taxation…
BNR rejects draft law on reducing foreign reserve to boost budget
The National Bank of Romania (BNR) was presented for approval a bill stipulating the boosting of budget revenue by reducing the foreign currency reserve, an initiative which the Central Bank opposes, as it violates BNR's status, the EU Treaty and the Constitution, Adrian Vasilescu, advisor to the BNR Governor, stated, quoted by Mediafax. "First and foremost, BNR points out that the bill does not clearly state whether BNR's contribution…
EcoMin: Romania's economic restart not any sooner than 2011
The restart of Romania's economy will not occur any sooner than 2011, as the floods and VAT hike caused it to fall by almost one percent of GDP, Minister of Economy, Trade and Business Environment Adriean Videanu on Friday told the public radio station. "If it hadn't been for the floods that bit off almost one percentage point of the GDP…