- CNTV English - CCTV News

Homepage > News > Biz >

Romania gov't amends Tax Code to introduce more taxes

06-24-2010 16:21 BJT

BUCHAREST, June 23 (Xinhua) -- The Romanian government Wednesday adopted an emergency decree to amend the Tax Code to introduce a series of additional taxes from July 1.

Government spokesperson Ioana Muntean said the revised Tax Code introduced a tax on meal and holiday tickets, gift vouchers and nursery vouchers, and would levy it by incorporating the value in wage earnings.

The government will collect a 16-percent tax on interest income from bank deposits.

According to the revised code, the deductible quotas for copyrighted work will be reduced to 20 percent of the gross income, from the current 40 percent.

Owners of more than one house will be forced to pay a so-called "solidarity tax" to the local budget, amounting to 50-200 percent of the current yearly tax on their other houses.

Meanwhile, freelancers will pay a 16.5-percent social security contribution, as any other employee, provided their earnings are included in the salary category.

Romania is currently in a deep recession, which dragged down the country's gross domestic product by 7.1 percent in 2009 after eight years of sustained growth.

The eastern European country last year signed a 20-billion-euro (24.5 billion-U.S.-dollar) IMF-led rescue loan to cope with the crisis.

The IMF said in early May that it would disburse the fifth tranche of the stand-by agreement only after Romania implemented cost-cutting measures to cap the public deficit at 6.8 percent of GDP this year.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program