IFM Delegation in Romania Negotiates Tax Cuts

This is what Romanian negotiatiors expect to convince the IMF representatives to agree to: lowering the income taxes paid by employees from 16 percent to only 12. Also, Romanians want to persuade the IMF to allow the taxes per employee paid by the employer to be reduced from 44 percent to just 41.
The decrease in taxes is likely to deprive the nation’s budget of 2.2 billion Euros. This makes it unlikely for Romania to stay within the deficit target, of 4.8 percent, as agreed previously by the IMF. Romania has borrowed 20 billion Euros from the IMF since the beginning of the crisis, bringing Romania’s foreign debt up to over 80 billion.

Commission this story

www.taskforcetv.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: