Drugmakers Want Independent Audit For Data Used By Health Insurance House For Clawback Tax
Medicine producers in Romania are asking for an independent audit regarding the data used by the National Health Insurance House (CNAS) to calculate the clawback tax, which, they argue, it was kept at an unjustifiably high level in the second quarter.
The “p” percentage of calculations of the clawback tax reached 24% in the second quarter, which is relatively constant compared to 26% in the previous quarter.
Keeping the clawback tax at the same level, in the context of a decline in medicine consumption on the market by over 10%, according to Cegedim data, “casts doubt on CNAS’ calculation method,” the Romanian Association of International Medicine Producers (ARPIM) and the Association of Generic Medicine Producers in Romania (APMGR) said in a statement. (Adevarul)
EY: Banks Need To Make Major Changes To Return To Two-Digit Profitability
An EY analysis reveals that banks need to shift focus from products to clients in order to return to a two-digit profitability in the future, because the perception that banks do not work in the best interest of clients has affected the confidence level in banks.
According to the analysis, banks will have to make significant changes in order to return to a two-digit profitability and eliminate the impact of high costs, of deficiencies in the control zone and of fiercer competition.
Therefore, the main challenge for both investment and universal banks is their ability to shift focus from products to clients, while keeping their innovation ability intact, the analysis also reveals. (Romania Libera)
Drought Triggers EUR2B Losses, Product Price Hikes – LAPAR
Drought has seriously damaged this year’s crops and caused EUR2 billion losses to producers, which represent unrecoverable investments, thus, prices of Romanian products will increase in the upcoming period, said Laurentiu Baciu, head of the League of Farmer Associations in Romania (LAPAR).
Maize is the most affected crop, between 30% and 100%, depending on the region, but drought also damaged the crops of soy, wheat, rape, sunflower, as well as vegetables.
Baciu added that the price of fruits, vegetables and cereals will definitely increase in the upcoming period, triggered by the drought and the new taxes introduced by the Environment Ministry. (Puterea)
Central Bank Governor And Finance Minister Met For Talks On Tax Code
Romania’s central bank governor Mugur Isarescu met Monday with Finance Minister Eugen Teodorovici for talks on the package of measures included in the new Tax Code and each of the two institutions reiterated its stand.
Isarescu said the central bank unveiled the risks while the finance ministry emphasized the political context in which debates are held.
According to Isarescu, central bank representatives pointed out once again that the central bank’s stand is not related to the Tax Code, but to the package of measures aimed at reducing various taxes. (Adevarul)
Romania To Hold Local And Parliamentary Elections In 2016
Romania will hold two major events in 2016, namely, the local and parliamentray elections.
The presidential elections held in 2014 were the first major political event in which the social-media was used for mass communication. The social-media became an important element in the Romanian political marketing along with an exponential increase in the number of Internet users countrywide.
Currently, there are more than 10.3 million Internet users, accounting for approximately 68% of population aged 14 to 64. Of these, 3.7 million live in rural areas and 6.6 million live in urban areas. (Puterea)