Only 2% of Romanian contributors targeted by tax on high wealth

The Romanian authorities’ plan to collect taxes on high wealth will target about 1-2 percent of contributors, Finance Minister Gheorghe Ialomitianu has said. He added that fiscal authority ANAF will set up several departments tasked with checking wealthy individuals. The minister said recently the Government will establish a workgroup that will set the procedures to tax undeclared income and will ask the World Bank to help it draw up the application norms. The Government decided last year that individuals whose real income exceeds their declared income by at least RON 50,000 (EUR 11,737) will pay a tax of 16 percent on the difference. Mediafax