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Romania’s Govt Mulls Cashing RON217M From Taxing Interests By Yearend

Romania’s Government plans to cash this year 217 million lei (EUR1=RON4.1838) from taxing interests by 16%, and RON145 million from applying the flat tax to stock market gains.
Romania’s Govt Mulls Cashing RON217M From Taxing Interests By Yearend
26 mai 2010, 09:53, English

Thus, by 2013, the Government expects to cash revenues of RON450 million per year, on average, from taxing interests, according to an emergency decree amending the Tax Code.

According to the decree, taxing the interests for current accounts, on-sight deposits and term deposits will bring the state budget additional revenues of RON217 million between June 1 and the end of the year.

Moreover, the additional revenues are estimated at RON440 million in 2011, RON450 million in 2012 and RON460 million in 2013.

By applying the flat tax on capital gains, the Government expects to get revenues of RON300 million in 2011, RON320 million in 2012 and RON330 million in 2013.

For the June 1-December 31 period, the Government will tax all net income by 16%.