IFM Delegation in Romania Negotiates Tax Cuts

This is what Romanian negotiatiors expect to convince the IMF representatives to agree to: lowering the income taxes paid by employees from 16 percent to only 12. Also, Romanians want to persuade the IMF to allow the taxes per employee paid by the employer to be reduced from 44 percent to just 41.

The decrease in taxes is likely to deprive the nation’s budget of 2.2 billion Euros. This makes it unlikely for Romania to stay within the deficit target, of 4.8 percent, as agreed previously by the IMF. Romania has borrowed 20 billion Euros from the IMF since the beginning of the crisis, bringing Romania’s foreign debt up to over 80 billion.

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One Comment to “IFM Delegation in Romania Negotiates Tax Cuts”

  1. First of all IMF is not involving in Romania’s politic, butt the solution is very easy .
    First of all block the black market, many of not payed products and company set ups to avoid TVA. There is a big income trough TVA that is never payed to the state, Food – Electro – Cars, just look howmany jobs that can create and howmany revenue in tax. So this money can be used to lower the TVA and more income for state and people. Creating a stabel economical growth for Romania.

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