BUSINESS

Gov’t puts on hold CAS reduction for employers

The Government decided to adjourn the reduction of social security contributions (CAS) paid by the employers until “the time is right” as, under present circumstances, it cannot afford to take such a measure, Finance Minister Gheorghe Ialomitianu stated, yesterday. The Executive adopted, on the same occasion, the fiscal-budget strategy until 2014, which does not include the promised CAS reduction. The fiscal-budget strategy, as drafted in April, set that the social contributions would be reduced by 2 pc in the latter half of the year. The 2 pc-reduction of CAS was clearly stipulated in the document, on the grounds that this tax relaxation would contribute to reducing tax evasion on the labour market and to enhancing voluntary compliance.

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