November 1, 2023 UPDATE

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Newsroom, 01.11.2023, 20:00

TAXATION Some of the new fiscal measures aimed
at reducing the budget deficit in Romania came into force on Wednesday. Under
the law for which the Government has assumed responsibility in Parliament, personnel
in the IT sector will pay an income tax for amounts exceeding EUR 2,000 per month. Local
public institutions and authorities cannot use public funds for the organisation
of community events, such as festivals, concerts, local competitions or other
themed celebrations. Other fiscal measures, such as the introduction of new
taxes for SMEs and the payment of health insurance contributions for the value
of meal vouchers, will take effect on January 1, 2024. The measures run counter
to many entrepreneurs’ interests. At a conference on this topic, organised by
the Chamber of Commerce and Industry of Romania, the participants argued that in
order to contain the budget deficit, top priority measures should include combating
tax evasion, improving revenue collection and improving the work of the Tax
Office. The President of the Chamber, Mihai Daraban, said that the government
now has more options available before attacking the business community.

PENSIONS In Romania, a draft pensions law has been posted for public
review on the Labour Ministry’s website. The document was approved by the
ruling coalition, and the government is seeking to have it endorsed under an
emergency procedure by the end of this month. Under the new legislation, all
pension benefits will be adjusted to the annual inflation rate, and will be
re-calculated based on a new formula. No benefits will be lower than they are
at present, the PM Marcel Ciolacu promised after a meeting of the ruling
coalition. The minimum contribution period will be 15 years, and the maximum
period 35 years, with bonuses given for workplace stability. According to the
Prime Minister, pensions will be raised in 2 stages next year, on January 1 and
on September 1, respectively.

DONATION The first F16 fighter jets that the
Netherlands will donate to Ukraine will arrive at a training center set up in
Romania in two weeks, the Dutch Prime Minister Mark Rutte announced. He emphasised
that the current situation in the Middle East should not and will not be able
to distract the Netherlands from the fight of the Ukrainians against the
Russian aggression. Denmark, Norway and Belgium have also announced that they
will supply Ukraine with F16 aircraft.

FOOTBALL The match between the national
football teams of Israel and Romania, in the EURO 2024 Qualifying Group I, will
take place in Hungary, the Romanian football federation announced. The game
will be played on November 18, in Felcsut, approximately 50 kilometers from
Budapest. UEFA stated that the presence of spectators will be
allowed. Previously, the organisation had decided to suspend all matches scheduled
in Israel, because of the armed conflict there. After the match against Israel,
Romania is to meet Switzerland, on November 21, in Bucharest. After eight
games, Romania is undefeated and ranks first in the group, with 16 points.
Switzerland (15 points) and Israel (11 points) have played one match and two
matches less, respectively. The two top-ranking teams go to the final
tournament in Germany. Romania has not reached a European championship final
tournament since 2016, and a World Cup since 1998.

RADIO Radio Romania celebrated 95 years of uninterrupted broadcasting.
In recognition of the critical role that Radio Romania has in Romania’s
history, in December 2019 Parliament decided to establish November 1 as the
National Radio Day. Over three million people listen to Radio Romania every
day. Public institutions, NGOs, major personalities in Romania’s arts and
cultural scene have congratulated Radio Romania on the occasion. PM Marcel Ciolacu pointed
out that for 95 years, the public radio broadcaster has been a source of
information and education for generations of listeners, while the Senate
speaker Nicolae Ciucă said that Radio Romania has been promoting Romanian
traditions and values for nearly a century and deserves recognition for its
efforts in this respect. The president of the Romanian Academy Ioan-Aurel Pop
also congratulated the Romanian Radio Broadcasting Corporation, which, he said,
has been a witness to all the milestones in Romanian history. In Timişoara,
this year’s European Capital of Culture, the Gaudeamus Radio Romania Book Fair takes
place until November 5. On Friday, November 3, an anniversary concert of the
National Radio Orchestra is scheduled, and between November 22 and 26, a new
edition of the Gaudeamus Radio Romania Book Fair, the longest-running project
of its kind in the country, will be organised at the Romexpo exhibition centre
in Bucharest. (AMP)