Romania: Taxes Expected to Be Raised

People ♦ Published: October 28, 2013; 19:23 ♦ (Vindobona)

The local press reports that numerous anonymous sources from the larger ruling party say that the executive is considering a hike in profit and income tax.

Romania: Taxes Expected to Be Raised / Picture: ©

The income tax is supposed to be raised to 22% in 2014 (from 16% currently) while simultaneously lowering the VAT rate to 22% (from 24%). This was somewhat confirmed by the head of the liberal party, the second-largest alliance member. The issue with what is probably the second-biggest story of this year (after the domestic debt papers' inclusion in a popular EM debt index announced in…