Romania Had Biggest VAT Gap In EU In 2012 – EC Report
An estimated EUR177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the European Commission, of which Romania lost EUR8.8 billion, a VAT gap of 44%, the highest in the EU.
The estimated EUR177 billion in VAT revenues lost due to non-compliance or non-collection equates to 16% of total expected VAT revenue of 26 member states (data were not available for Cyprus and Croatia). In 2012, the lowest VAT gaps were recorded in the Netherlands (5% of expected revenues), Finland (5%) and Luxembourg (6%).
The largest gaps were in Romania (44% of expected VAT revenues), Slovakia (39%) and Lithuania (36%). Eleven Member States decreased their VAT gap between 2011 and 2012, while 15 saw theirs increase. Greece showed the greatest improvement between 2011 (EUR9.1 billion) and 2012 (EUR6.6 billion), although it remains one of the member states with a high VAT Gap (33%). (Romania Libera)
Average Salary In Private Sector Up 4.1% In 2014 – Study
The gross average salary in the private sector increased by 4.1% in Romania in 2014, while Timis county posted the highest growth, of 8%, according to PwC’s salary and benefits survey PayWell Romania.
The gross average salary in Bucharest increased by approximately 3.4%, while in counties in Transylvania, Muntenia and Eastern Romania, the gross average salary remained at last year’s level.
“Two factors explain why the wage dynamics in Western Romania are more accelerated. On the one hand, there is intense competition between the employers, mostly manufacturing organizations, geared towards attracting and motivating a workforce that has similar profiles and backgrounds (for example, engineers or qualified workers). Moreover, the availability of the labor force is limited, with an unemployment rate of 3-4%, half of the 7% found at the national level,” stated Horatiu Cocheci, Senior Manager, Leader of the Human Resources Consultancy Team, PwC Romania. (Curierul National)
Ponta: I’m Nobody’s Target, I Think Everybody Loves Me
Asked if he considers himself the target of the National Anticorruption Department (DNA), Romanian Prime Minister Victor Ponta said he considers he is “nobody’s target”, adding ironically that he thinks that everybody loves and supports him.
Viorel Hrebenciuc, whose son was arrested in a case of illegal retrocession of land plots, stated that the real target of DNA is the presidential candidate Victor Ponta and that he and his son are innocent.
Ponta added that several candidates for President are incorrectly considering that they could become the President of Romania as “DNA will destroy PSD and Ponta”. (Puterea)
Basescu: My Mandate Ends On December 21, I Cannot Stay Any Longer
Romanian President Traian Basescu stated Thursday, before traveling to the European Council that his mandate ends on December 21, at 24:00 local time, and, constitutionally, he can no longer stay in the position of President irrespective of what happens in the presidential race.
“Regardless of what happens in the presidential competition, my mandate ends on December 21, at 24:00 local time. On December 22, somebody else should be at Cotroceni Palace, either a newly elected President, or the Speaker of the Senate or the Chamber of Deputies, depending on the situation, given that the Senate Speaker is also a candidate,” Basescu stated.
The President said that the next day after ending his presidential mandate, he would become a member of the People’s Movement Party (PMP), planning to build a new party so that Romanians would have a “clean alternative” in 2016. (Evenimentul Zilei)
Romania To Switch To Winter Time On October 26
Romania will officially switch to winter time on Sunday morning, when 4:00 local time will become 3:00 local time, thus the day of October 26, which will have 25 hours, will be the longest day of the year.
Daylight Saving Time (DST) is the practice of turning the clock ahead as warmer weather approaches and back as it becomes colder again so that people will have one more hour of daylight in the afternoon and evening during the warmer season of the year.
DTS is available between the last Sunday of March and the last Sunday of October. (Romania Libera)