European Commission clears Romania’s 7-year fiscal consolidation plan

Romania should prepare a report, building on the World Bank report on taxation prepared under the Resilience Plan PNRR (milestone 205), establishing two scenarios for the tax reform, with fully specified measures by April 1, 2025, according to the set of reforms and investments that underpins an extension of the adjustment period to 7 years for Romania endorsed by the European Commission under the European Semester on November 26.

Measures should cover all areas of taxation and social contributions.