TAX
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Spirits Sales Total EUR700M, Tax Paid On Just 25% - Association
Romanians buy EUR700 million worth of spirits annually but the state collects taxes and excises for just 25% of the amount sold because of tax evasion, according to data released Thursday by...
Government Drafts Bill Taxing Tips
The government wants to tax tips, which will require a separate receipt, and employers will be able to choose whether to have tips taxed as profit or distributed to employees and taxed as in...
Belciu, PwC: Lower Taxes Will Boost Consumption If Prices Go Down
The reduction of the sales tax and other taxes stipulated in the new Tax Code will boost consumption as long as this is reflected in shelf prices, said Bogdan Belciu, partner at PwC Romania,...
Government Postpones Social Security Tax Cut Until 2018
Social security contributions paid by employees and employers will be reduced starting 2018 , according to the latest update to the draft Tax Code, which the government presented Wednesday.
Lax Policies Won't Boost Economic Growth - Central Bank Official
Lax fiscal and monetary policies don't necessarily lead to economic growth, central bank chief economist Valentin Lazea said Tuesday, adding economists ignore the experience of past centurie...
Tax Code Draft: Romania May Scrap 16% Dividend Tax As Of 2016
Romania’s Government plans to eliminate the 16% income tax on dividend payments to companies’ shareholders as of January 1, 2016, in a move to avoid double taxation which is expected to crac...
Tax Code Draft: Micro-Enterprises With No Employees To Pay Extra Tax
Micro-enterprises will have to pay a tax even if they don't have any employees and firms with one or more employees will pay 3% and 1% of their turnover, respectively, while firms with no em...
PwC: Tax Authority Must Come Up With Voluntary Compliance Program
Taxpayers in Romania need the tax authority to instate a program for the voluntary statement of income, including past income, that doesn't aim to penalize but to recover back taxes, PwC Rom...
Card Payments For Local Taxes Rose 31% In 2014, To RON175M
Payments of local taxes by card rose 31% in 2014 in Romania, to around RON175 million, as online payments more than doubled, Visa Europe announced Thursday.