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Romania Needs To Expand Taxation Pool – Fin Min

Romania’s Finance Ministry will analyze the possibility to expand the general taxation pool, minister Sebastian Vladescu said Wednesday.
Romania Needs To Expand Taxation Pool - Fin Min
21 apr. 2010, 14:48, English

„Expanding the taxation pool is necessary and we will look into the possibility to do just that, based on supportability levels,” Vladescu said after a government meeting.

Romanian President Traian Basescu on Tuesday warned the government that the economic data for the first months of 2010 suggest the budget deficit could exceed 7% of the gross domestic product, above the 5.9% of GDP target agreed with the International Monetary Fund.

Basescu said the 5% cut in personnel costs agreed with IMF might be insufficient to keep the budget deficit under control and asked for additional measures to trim spending, including elimination of all tax exemptions.