ECONOMY FINANCE&BANKING

Taxes, quotas on private pension funds and insurers slashed as of January 1, 2016

The Financial Supervision Authority (ASF) is cutting by 50pct some taxes and quotas applied to the private pension funds, and for some insurance companies the cut will be worth 20pct, the financial impact on the institution’s budget being of rd 9 million lei, according to a release by the ASF. (1 euro=4.5 lei)

“The decision is part of the ASF’s strategy to supporting and developing the markets regulated and overseen by the diminishing of the financial effort of the entities in these sectors,” the ASF release says.

In January 1, 2015, the same ASF has operated a series of cuts of taxes, quotas and tariffs applied to the companies operating on the non-banking financial market.

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