Romania's Finance Ministry Amends Bank Tax This Week

Romania's finance ministry will finish this week a draft of changes to the emergency decree 114/2018 that introduced a tax on bank assets and raised capital requirements for mandatory private pension funds.

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Finance minister Eugen Teodorovici said Wednesday the ministry will finish its proposed changes, which include a disconnection of the bank tax from the money market interest rate and changes to the tax base.

Teodorovici said the ministry and the Romanian Banking Association have reached consensus over changes to the bank tax.

He added other ministries in charge of sectors affected by the tax decree, such as telecom and energy, are expected to propose changes by the end of this week as well.

The government seeks to adopt another emergency decree to pass the amendments by the end of March.

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