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December 1, 2020

FinMin announces flat tax – same level in 2015

The flat tax will remain the same in 2015 as the progressive taxation of revenue involves technical aspects, both of submitting and payment, which cannot be implemented by that time, said Minister of Finance Ioana Petrescu, avoiding saying what is the taxation formula she tends to choose, reports Mediafax. The Minister of Finance admitted that shifting to progressive taxation is included both in the government program and the tax-budget strategy, like a milder form of taxation for people with low revenues, but refused to answer to the direct question whether she believes that the flat tax should be removed. “I believe the moment the decision will be made, whether it will be made, an analysis will have to be made as to how this form of taxing is perceived as a relaxation for those with low revenues. The first step is to decide whether you want,” said Petrescu. She added that removing flat tax for profit of 16 percent does not come into question.

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