Romania will introduce a tax exemption on reinvested profit starting July this year, under an emergency ordinance already drafted by the Ministry of Finance, according to Romania’s Prime Minister Victor Ponta.

Earlier this year, Ponta announced that the government agreed with the International Monetary Fund IMF to exempt taxes for reinvested profit starting July 1 this year.

The Association of Business People in Romania has asked the Government to support tax exemption for reinvested profit and a cut in salary taxes in its negotiations with the IMF.

editor@romania-insider.com