Romania Has No Plans To Tax Pensions – Finance Minister

„I don want to tax and I know pensions cannot be taxed, except for high ones that are already subject to taxation. Let me make myself very clear: I do not plan to tax pensions right now. There is a tax levied on high pensions and that stays,” Vladescu said.

Romania currently applies a 16% flat tax on pension income that exceeds 1,000 lei (EUR1=RON4.1252).

Vladescu said in an interview for money.ro that pensions in Romania aren’t taxed at the time of contribution or upon collection and he would like a public debate on the fact that the pension system has little over three million contributors and six million beneficiaries.

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„Now isn’t even a good time for a public debate. We’re not planning to tax pensions or having a public debate on this issue,” Vladescu explained.

In the interview for money.ro, Vladescu explained taxing pensions wouldn’t solve the country’s fiscal problems, adding the entire tax system needs to be overhauled.

Vladescu also gave assurance all taxes remain unchanged this year except for the minimum tax for companies, which becomes a lump-sum tax.