The independents are proposing an overtax on estates worth over 500,000 Euro

Publish date: 08-07-2010
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Deputy Eugen Nicolicea specified that the measure would apply only during the crisis, and could raise 2 billion Euro. The independents are preparing a draft bill for applying a tax on displayed wealth.

Those in the crosshairs are persons with more than 500,000 Euro in their bank accounts, with the measure to be applicable solely during the economic crisis. National Union for the Progress of Romania Deputy Eugen Nicolicea, tasked by the party to draft the piece of legislation, stated Tuesday for Gandul that this is "a solidarity overtax": "Per the French model, we want to raise between 0.5 and 1% of the value of the estate's of those that have more than 500,000 Euro. For the French, the measure applies from 700,000 Euro on up".

The independents have already made a calculation regarding the money that would be collected to the state budget like this, and they're saying it would be over 2 billion Euro per year.


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