Media: European Central Bank reviewing Romania’s tax on financial assets
The European Central Bank (ECB) is currently analyzing the emergency ordinance OUG 114/2018 concerning the tax on financial assets that banks in Romania need to pay beginning this year, Profit.ro reported.
The banks will pay a tax on their financial assets when the average interbank offer rate – ROBOR for the maturities of three and six months exceeds the 2% benchmark.
The Romanian Government did not submit a request for an opinion of the ECB before the ordinance was published, as requested by EU legislation, Profit.ro wrote.
The ECB is to publish a notification on the tax. The ECB notifications are advisory in nature but the Treaty on the Functioning of the European Union establishes a framework for consultation of the ECB by national authorities.
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editor@romania-insider.com
