Senators Vote To Raise Nominal Value Of Meal Voucher To RON13
Romanian senators voted on a bill, put forward by 59 PSD, PNL and UDMR lawmakers, which raises the nominal value of a meal voucher granted to employees to RON13 (EUR2.87), from RON9.41 currently.
The sponsors of the bill argue the current value of a meal voucher, of RON9.41, (before taxes) is not enough to buy a meal, considering that the average value of a meal is RON13.
Lawmakers also said the value of a meal voucher in Romania is among the lowest in Europe, namely EUR2.13, compared to EUR4.40 in Austria, EUR7 in Belgium, EUR10.58 in France, EUR6 in Greece and EUR4.20 in Slovakia.
The Chamber of Deputies has the final say on the matter. (Puterea)
British Pound Keeps Depreciating Against Romanian Leu On Brexit Vote Aftermath
The British pound kept losing ground against the Romanian leu and the central bank (BNR) on Monday set the leu’s reference rate versus the sterling at 5.4295 units.
„The depreciation of the sterling affects companies with many employees. One must rapidly consider a force majeure situation so that compensations can be granted for ongoing contracts, until the situation has been cleared,” said Cristian Parvan, president of private services employers’ association.
A 15% drop in the exchange rate of the pound results in daily losses of EUR1.5 million for Romanian exporters to the UK, based on ongoing contracts, according to Romanian Exports Council co-chairman Mihai Ionescu.
Ionescu expects the BNR to intervene in order to limit the pound’s depreciation, because BNR cannot ignore the evolutions in Romania’s economy. He also called on Bucharest authorities to compensate the companies that incur losses over the aftermath of Britain’s decision to quit the European Union, as businesspeople did not foresee the vote for Britain’s exit from the European Union. (Evenimentul Zilei)
Romania’s Budget Lost EUR8.3B On VAT Deficit In 2015
Romania’s budget loses EUR8.3 billion annually due to the VAT deficit, namely the difference between the VAT to be collected and the sums actually collected, according to a PwC study analyzing fiscal evasion in Romania, the Czech Republic, Hungary and Slovakia.
The highest VAT deficit was registered by Romania, with 39.6%, followed by Poland, with 29.2%, Slovakia, with 28.3%, Hungary, with 20.5%, and the Czech Republic, with 19.6%.
According to PwC estimations, uncollected VAT triggered losses of over EUR28 billion last year for the budgets of the five countries in CEE.
In financial terms, this VAT deficit translates into an annual loss of EUR3.1 billion to the Czech Republic’s budget, EUR2.6 billion to Hungary’s budget, EUR12 billion to Poland’s budget and EUR2.2 billion to the budget of Slovakia. (Adevarul)
Government Challenges Special Pensions Law For Second Time
The Romanian Government has challenged for the second time, at the Constitutional Court, the law regulating special pensions for local dignitaries.
The Court is expected to rule on the matter on July 20.
Prime Minister Dacian Ciolos said the law does not clearly stipulate the financial resources used to raise special pensions. Ciolos also said the law will have a budget impact of nearly RON400 million per year and the idea of special pensions risks affecting the very consolidation of the pension system.
The law adopted by the Parliament sets that local dignitaries will receive special pensions after completing a full term in office. The law is to become effective starting January 2017 and the pensions of local dignitaries will be granted from local budgets. (Evenimentul Zilei)
President Iohannis To Attend European Council Summit On June 28-29
Romanian President Klaus Iohannis will take part, on June 28 – 29, in the European Council summit in Brussels.
The results of the United Kingdom’s EU referendum held on June 23 will be the main topic on the European Council’s agenda.
According to a press statement issued by the presidential administration, the Romanian President will convey a clear message concerning the need for unity and solidarity within the European Union, as well as his conviction that only by resorting to common action in the spirit of European values could the Union be able to overcome and best answer to current challenges.
With respect to the negotiation process entailed by Britain’s exit from the European Union, which Romania will take part in, the head of state will emphasise Romania’s commitment to firmly defend the upholding of equality of rights among all European Union citizens, including the rights of Romanians living and working in the United Kingdom. (Puterea)