27 March 2019
The Romanian Government is reportedly considering changes in the new financial assets tax on banks that was introduced 1 January 2019 (previous coverage). This includes a change in the progressive rates of 0.1% to 0.5% based on Romanian Interbank Offer Rate (ROBOR) to fixed rates of 0.2% or 0.4% based on a banks market share. Banks with a market share below 1% would pay the 0.2% rate, while others would pay the 0.4% rate. Further, the tax base is to be narrowed, including the exclusion of government-issued securities, minimum reserves, interbank loans, cash, and other loans granted through government programs.
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