The 16% tax on interest rates, luncheon vouchers and transactions in shares or the mandatory payment of social security contributions for those working as freelancers have become a certainty yesterday, when the Government approved the emergency ordinance amending the Fiscal Code.
"One of the purposes of this ordinance is to bring the taxation system up to normal. The Romanian legislation had and will probably still have - we are trying to identify them all, loopholes that allowed using various payment systems or various tax fraud circuits in order to derive incomes. With the law on tax evasion we tried to eliminate what pertains to products, we are discussing the labour market and in this discussion about the expansion of the taxation base we include non-salary incomes, such as those made by sole traders or royalties, formulas used - not for fraud, because they were somewhat compliant with the law, but to avoid payment of all taxes and duties," said Finance Minister Sebastian Vladescu.
The biggest source of additional revenues to the budget is the taxation of luncheon vouchers, which should generate 345 million RON in the second half of the year. There are about 2 million beneficiaries of luncheon vouchers in Romania, and the 16% tax might make many employers stop granting them, with the negative impact on consumption likely to reach 1 billion euros in one year
The 16% tax on interest rates, luncheon vouchers and transactions in shares or the mandatory payment of social security contributions for those working as freelancers have become a certainty yesterday, when the Government approved the emergency ordinance amending the Fiscal Code.
"One of the purposes of this ordinance is to bring the taxation system up to normal. The Romanian legislation had and will probably still have - we are trying to identify them all, loopholes that allowed using
