Ro­ma­nia tax plan scrapped.

Kathimerini English - - Focus -

Ro­ma­nia’s So­cial Demo­crat-led govern­ment has scrapped a plan to in­tro­duce a so-called sol­i­dar­ity tax for top earn­ers, af­ter an as­sess­ment showed it would not bring in much money, Prime Min­is­ter Mi­hai Tu­dose said yes­ter­day. It was the sec­ond tax plan to be scrapped in a mat­ter of days. Last week, Tu­dose said his coali­tion govern­ment had dropped a plan to tax com­pa­nies’ turnover, due to sharply neg­a­tive mar­ket re­ac­tion and crit­i­cism from cen­trist Pres­i­dent Klaus Io­han­nis as well as lo­cal and for­eign in­vestors. In late June, the rul­ing coali­tion had an­nounced changes to ma­jor taxes due in 2018, in­clud­ing re­plac­ing a cor­po­rate flat tax of 16 per­cent on profit with a pro­gres­sive tax on turnover. The tax plans – and a quickly ditched idea to end a manda­tory, multi-bil­lion pri­vate pen­sion scheme for those un­der 35 – beat down stocks and the leu cur­rency. “To­day’s con­clu­sion is that we can treat this planned [sol­i­dar­ity] tax as ‘dis­cussed and for­got­ten,’” Tu­dose told re­porters.

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