Romanian Govt To Replace Minimum Tax With Lump Sum Tax

"The minimum tax will be gone starting with October 1. This is a certainty. We will not replace it with anything until the end of the year, but we are working on a lump sum tax, for 2011, which should be introduced in January," Vladescu said.

The removal of the minimum tax starting this fall was announced in July by Prime Minister Emil Boc, who did not offer an exact date at that time.

Romanian fiscal authority ANAF collected 649.6 million lei (EUR1=RON4.2283) in minimum income taxes in the first half of the year, amounting to around 65% of the total owed amount, ANAF said in a statement Thursday.

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