Main Taxes Unchanged In New Romania-IMF Deal - PM

By end-April, the Government will assess the outstanding debts of state-owned companies to the general consolidated budget, by their value at the end of 2010. The debts will be settled gradually, according to a schedule, said Boc in a press conference.

The prime minister said the Government will "eliminate" or re-negotiate unprofitable contracts in the field of transports.

The Executive's plans also include:
- selling the state's minority stakes in companies such as Petrom, Transgaz, Transelectrica;
- restructuring railway companies;
- taxing high undeclared wealth, in an attempt to fight tax evasion;
- asking the European Union's Council of Ministers to approve increasing the level of turnover or revenue after which the registration and payment of VAT becomes mandatory to EUR50,000, from EUR35,000;
- clarifying the legal conditions on the claw-back tax charged to pharmaceutical companies;
- setting reference ceilings for quarterly services in the healthcare sector and compensating doctors who abide by the ceilings;
- denying financing to non-essential, costly, medical services.

Boc said the agreement does not state an exact number of public sector employees to be laid off.

Romania has agreed on a fresh two-year agreement with the International Monetary Fund, European Union and the World Bank, President Traian Basescu said Sunday evening. The new agreement is for EUR5 billion - EUR3.6 billion from the IMF and EUR1.4 billion, and Romania will only draw on the money if needed.

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