RRI Live!

Listen to Radio Romania International Live

Fiscal and financial measures

New fiscal and financial measures are taking effect on October 1st in Romania.

, 01.10.2014, 13:17

The reduction of social security contributions paid by employers; the fact that a number of social categories are no longer obliged to return additional funds received as a result of an accounting error and the amendment of the budget — these are some of the measures coming into force on October 1st.



Employers have been looking forward to the 5% reduction in social security contributions for at least 5 years, but while it is welcomed by the business community, it has also generated anxiety. Some investors fear the measure may lead to further increases in taxes and fees or the introduction of new taxes next year. Also, according to the secretary general of the Association of Businesspeople in Romania, Cristian Parvan, there is no guarantee that this measure will generate more jobs:



“It will be different from one company to another, given that the business environment has faced increasing costs this year as a result of an increase in the price of energy, gas and fuel.”



The measure has also been criticised for political considerations. The coalition government, in particular the Social Democratic Party, which is its largest member, has been accused of trying to score some electoral points head of the presidential elections, as the Social Democrats’ leader and prime minister Victor Ponta is himself running for president.



Another measure coming into force on October 1st stipulates that around 30,000 Romanian pensioners and 12,000 women with children will no longer have to return money they had received because of an accounting error. Despite the fact that this will cost the state around 70 million lei, the government insists the state budget will not be affected. This is what the prime minister said after amending the state budget for the second time this year:



“For the first time in many years, budget returns in the first nine months of the year are higher than first estimated when the budget was drafted. The Romanian people have worked hard, honest companies have paid their taxes and fees and fiscal evasion has decreased, so that all estimated resources are now available, and we even have additional resources.”



Following the recent budget amendment, which has been criticised by the centre-right opposition, additional funds have been allocated to the ministries of labour and development and the local authorities.

European Commission (photo: © European Union - Source: EC - Audiovisual Service / Photographer: Christophe Licoppe)
Today in the News Thursday, 21 November 2024

Political agreement on the new European Commission

    The leaders of the three major political groups in the European Parliament have given the green light to the members of the next...

Political agreement on the new European Commission
Photo: aep.ro
Today in the News Thursday, 21 November 2024

13 for Romania

    In Romania, presidential elections usually spark the greatest interest and emotions. Even more so this year, when the two rounds of the...

13 for Romania
Gas consumption in the EU (Credits: magnascan-pixabay-com)
Today in the News Wednesday, 20 November 2024

Romania’s natural gas, available for trading

On Tuesday, the Romanian company Romgaz launched its first issue of bonds on the Bucharest Stock Exchange, worth 500 million EUR. Romgaz is the...

Romania’s natural gas, available for trading
Photo: roaep.ro
Today in the News Tuesday, 19 November 2024

Romania ahead of the presidential election

Next month, President Klaus Iohannis will end his second and last five-year term in office according to the Romanian Constitution. The so-called...

Romania ahead of the presidential election
Today in the News Tuesday, 19 November 2024

Romania’s Prime Minister on a visit to Brussels

NATO welcomes Romania’s continuous efforts and its significant contribution to strengthening the Alliance and Euro-Atlantic security, NATO...

Romania’s Prime Minister on a visit to Brussels
Today in the News Monday, 18 November 2024

Downward forecast from the European Commission

Romania’s economic growth estimate has been recalculated by the European Commission (EC), at a value well below the initially established...

Downward forecast from the European Commission
Today in the News Monday, 18 November 2024

35 years since the fall of the Berlin Wall

The fall of the Berlin Wall, 35 years ago, represented for Romanians an encouragement in their fight for freedom, and the removal of the Iron Curtain...

35 years since the fall of the Berlin Wall
Today in the News Friday, 15 November 2024

European minimum wage in Romania

The law on the introduction of the European minimum wage in Romania was promulgated by President Klaus Iohannis. Prime Minister Marcel Ciolacu has...

European minimum wage in Romania

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company