23 June 2014
On 18 June 2014, the Romanian Cabinet approved a reduction in employer social security contributions by 5%. The bill that includes the proposed changes will be submitted to the Romanian parliament for approval and is expected to apply from 1 October 2014.
The new rates will be as follows:
Although the change will result in lost revenue, higher than expected revenue from Romania's tax on special buildings is expected to make up the difference. No additional tax changes to compensate for lost revenue are expected at this point.
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