22.6 C
Bucharest
August 10, 2022
ECONOMYFINANCE&BANKING

Draft amendment to Fiscal Code, in first reading at Government meeting

The draft emergency ordinance aimed at amending the Fiscal Code will have its first reading at the Government’s meeting on Wednesday, Prime Minister Nicolae Ciuca announced.

“We need coordinated and discussed decisions at the level of the governmental institution and we need solutions that can be accepted and implemented in accordance with the reality we live in. These are measures that aim at both economic stability and job protection and, of course, our commitment to ensure the predictability of the business environment and economic development in a fiscal framework that is as well aggregated as possible to the current needs and situation. Thus, in today’s Government meeting we will have in first reading a draft emergency ordinance aimed at the Fiscal Code”, the prime minister said, according to Agerpres.

According to the Minister of Finance, Adrian Caciu, the aim is to protect employees with incomes of up to 4,500 lei. For this purpose, a series of deductions are proposed for employees who have other dependents, but especially for young employees, up to 26 years old, who will benefit from a 15% tax deduction.

He explained that, on the other hand, there are a series of “adjustments” in terms of companies, namely “eliminations of some facilities”, also requested by the European Commission.

 

President Iohannis: Modernization of entire Fiscal Code framework is required

 

On Tuesday, President Klaus Iohannis stated  that he discussed with Prime Minister Nicolae Ciuca and the Ministers about amendments to the Fiscal Code, showing that a modernization of the entire framework is required.

“I discussed these projects with the prime minister and the ministers. Firstly, I believe it is important to know that these matters will be up for public debate and will not be decided over night, as it is being said. There is another stage of talks with the business environment, with the unions. The second matter, there is no point in speculating matters that may never be put into practice, such as rationalizing gas or other things that nobody wants and if there were talks, those were technical talks, because if a catastrophe should occur, it is better to be prepared for it, but we are not working in that scenario. On the other hand, it is a well known matter that there is a series of taxes and levies that were introduced in other circumstances, without being very well-founded or discussed. We need a modernization of this entire framework. That is being worked on, it will be presented by the Government, not by myself. I asked them to carefully analyze, to not end up being an additional burden for the common people, to not have a business inhibition, but rather to have a correction which makes matters more transparent, fairer and which will definitively lead to a better collection of money to the state budget. A better collection meaning a reduction in tax evasion,” the head of state said, during a press conference at Cotroceni Palace.

He highlighted that “there are no talks about any levies or taxes for the common people, but situations where there were regulations that were not thoroughly thought out, namely regulations that come to eliminate certain loopholes from the Fiscal Code”.

Related posts

Ponta: What Romania borrows and Dragnea Gov’ts squander totals the sum that Basescu borrowed from IMF. We’re cursed

Nine O' Clock

American Chamber of Commerce’s regional investor forum: High-end Technologies, Extending Manufacturing Capacities and Tourism Hold the Greatest Potential for the Future of Investing in the CEE

NINE O'CLOCK

Deloitte Romania strengthens management team by appointing two new directors and one partner within Reff & Associates

NINE O'CLOCK