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June 25, 2022

Cabinet bets on RON 5 bln extra revenues from new taxes

The incomes to the consolidated budget will represent next year the same percentage of 32.9 pc of the Gross Domestic Product, but from a GDP calculated on the rise from RON 625.6 bln to RON 658.6 bln, while expenses will amount to 35.1 pc of the GDP, with the average exchange rate calculated at 4.5 RON/EUR, reads a document obtained by Mediafax. The government estimated a total income of RON 201.9 bln brought by the economy to the state budget (30.7 pc of the GDP) and an absorption of European funds slightly higher than the figure provided by the fiscal-budgetary strategy, respectively of RON 14.8 bln in non-reimbursable funds (2.23 pc of the GDP) compared to RON 14.4 bln.

The inflation is estimated to reach 3 pc at the end of next year, from 2 pc in 2013. The average number of employees will be 4.57 million, from 4.51 million in 2013.
The Cabinet will gather some RON 344 M (EUR 77.2 M) from the increase of the minimum gross salary in the economy, according to the draft budget for next year. The same document also mentions that the Executive will collect next year almost RON 5 bln from the new taxes, the change of the taxation regime for small and medium-sized enterprises, the modification of the way excise duties are calculated, the increase of the minimum gross salary in the economy and the enlargement of the calculation basis of health contributions.
The government plans to collect RON 4.96 bln this way, with the bulk of it, RON 4 bln, from establishing a way to calculate excise duties in RON updated with the inflation (which will bring additional incomes worth RON 1.1 bln), prohibiting the sales with premiums of products subject to excise duties – alcohol and tobacco (RON 246 M), increasing the excise duties on petrol (RON 810 M), diesel (RON 1.8 bln) and kerosen (RON 1.6 M). Other incomes will be collected as effect of the change of the taxation regime of SMEs (RON 49.8 M), the enforcement of the tax on special buildings (RON 488 M) and the increase of the minimum gross salary in the economy, with an adequate taxation (RON 344 M). All these incomes have been already taken into consideration when drafting the budget of next year.

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