Flat tax to be maintained at 16 pc until 2016 elections

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Until the elections of 2016, Romania would maintain the 16 percent flat tax, Prime Minister Victor Ponta assured, attending Tuesday the 23rd edition of the National Ranking of Private Companies of Romania – 2013 Ranking, carried out at the Palace of Parliament.
“Keeping the flat tax was a condition of the Liberal coalition partners, we have accepted it, we shall keep it. I am absolutely positive that at least until the elections of 2016 Romania will definitely have a 16 percent flat tax and further on the political forces that will have the legitimacy of the parliamentary elections of 2016 will be able to say if they maintain this flat tax or not,” Victor Ponta said, as gov.ro informs.
He reiterated that no fee and tax increases would take place in 2015.
“It is election campaign, but I believe that we shouldn’t be playing in the economy area in the election campaign. (…) No one, the current or the future government, will increase any fees and taxes, for the simple reason that what we adopted and is currently in force keeps within the budget fiscal policy we already have adopted, negotiated with the international bodies. (…) In 2015-2016, I don’t believe the future government is allowed to increase any fee or any special tax,” PM also said.
In another context, the head of the Executive appreciated that National Bank (BNR) reference rate in 2009 was 8.5 percent and he estimated that in the coming days, it will fall below 3 percent.
“This is good news for small and medium enterprises because the loans that they are contracted are at lower cost” Ponta said.
BNR will analyze next Tuesday, November 4, possible monetary easing measures amid slowing inflation and under the influence of actions initiated by the ECB – European Central Bank – to stimulate the economy, Bogdan Olteanu, vice-governor of the central bank recently announced.
In its meeting of September 30, the Board of the BNR decided to lower the monetary policy rate to 3 percent per annum from 3.25 percent starting with October 1 and to cut the minimum reserve requirements ratio on leu-denominated liabilities of credit institutions to 10 percent from 12 percent starting with the 24 October-23 November 2014 maintenance period and to maintain the minimum reserve requirements ratio on foreign currency-denominated liabilities at 16 percent.

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