Romania’s government moots tax exemption on reinvested profit

Newsroom 10/01/2014 | 07:00

Finance Minister Daniel Chitoiu said on Thursday the government is analyzing the option of offering firms tax exemptions for reinvested profits, which could be enforced starting July, when social security contributions for employers are expected to go down by five percent, reports Agerpres newswire.

Chitoiu said this measure aims to support the country’s economic recover, adding it needs to be backed by the ruling coalition USL and receive the green light from the IMF and the European Commission. Romania has an ongoing EUR 4 billion precautionary deal with the two international institutions.

“We can not say when it will be enforced or if it will be implemented from a certain date this year, but we are considering it, we are discussing it,” said Chitoiu.

He commented that if analyses show this measure is viable, it can be applied simultaneous with the reduction of social security contributions.

Ovidiu Posirca

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