Tag: fiscal exemptions

  • Project to support the economy

    Project to support the economy

    Beyond the round-the-clock fight to save the lives of
    the gravely sick, another major concern in these difficult times at global
    level is to find solutions to keep the economy moving forward. Governments worldwide
    have taken pre-emptive measures to support the population facing financial difficulties,
    as well as various sectors of the economy, some of them already shaken by the
    pandemic. The head of the Prime Minister’s Office, Ionel Danca, has announced
    new assistance packages. Therefore self-employed persons as well as family or
    individual businesses that have suspended their activity will benefit from a set
    allowance tantamount to the minimum wage, irrespective of contributions paid to
    the unemployment scheme. Ionel Danca also promised the Government would
    introduce new regulations for all types of enterprises and professional
    activities: large enterprises, cultural or sporting activities, NGOs affected
    by the state of emergency.

    In turn, Finance Minister Florin Citu said a
    solution would be presented shortly to the clients of banks facing
    difficulties, adding that talks are already ongoing with the National Bank and
    the banking sector. The Social-Democratic Party, the Alliance of Liberals and
    Democrats and the Pro Romania Party have submitted a bill providing for tax
    benefits. Among other things, the bill proposes a postponement of social
    security contributions for salary incomes and for social-security payments for
    a period of three months, starting March. The measure can be requested by each
    economic operator individually. Employers, on the other hand, must safeguard
    all employment contracts for a minimum period of 9 months.

    The Social-Democrats
    want the Government to suspend the refund of bank installments to the
    population, a measure already implemented in other European states. The
    Social-Democratic Party says the Government employs half-measures and
    incoherent policies, which is why they are considering the possibility of
    calling a no-confidence vote. The motion will not be targeted against the
    Government per se, but rather will contain a set of concrete economic measures.
    According to a previous Constitutional Court ruling, once voted, the provisions
    of any simple motion become compulsory and must be enacted by the Government.
    In turn, the Democratic Union of Ethnic Hungarians wants to immediately suspend
    fiscal obligations for enterprises that do not fire employees, while the Save
    Romania Union says the financial measures announced so far by the Government
    are important, but are not enough.


    (Translated by V. Palcu)