Romania's PM scraps plan to enforce 'solidarity' tax for high earnersStaff Writer | July 25, 2017
Romania's Social Democrat-led government scrapped a plan to introduce a so-called solidarity tax for top earners, after an assessment had shown it would not bring in much money, Prime Minister Mihai Tudose said.
Europe A quickly ditched idea
In late June, the ruling coalition had announced changes to major taxes due in 2018, including replacing a corporate flat tax of 16 percent on profit with a progressive tax on turnover.
The tax plans - and a quickly ditched idea to end a mandatory, multi-billion private pension scheme for those under 35 - beat down stocks and the leu currency.
"Today's conclusion is that we can treat this planned (solidarity) tax as 'discussed and forgotten'," Tudose told reporters. ■