Romania’s Social Democratic Party (PSD), the senior ruling partner, is seriously considering introducing a turnover tax of 1% for large-sized companies (with a turnover of over EUR 100 mln per year).

According to Ziarul Financiar, the tax would cover 250 such firms in the sectors such as energy, retail, and grain trading.

The tax would bring RON 5.3 bln to the state budget, which is more than the 16% profit tax the companies are paying currently: RON 3.5 bln.

Thus, there is a supplementary income of RON 3.5 bln (EUR 700 mln) at stake.

andrei@romania-insider.com

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