Romania’s Government approved the National Strategy on Competitiveness for 2015-2020, which has been drafted by the Economy Minister.

The National Strategy on Competitiveness identifies ten economic sectors which have a competitive potential. These include tourism and ecotourism, textiles and leather, wood and furniture, creative industries, automotive industry, IT & communication technology, food and beverage processing, health and pharmaceuticals, energy and environmental management, bioeconomy (agriculture, forestry, fishing, and aquaculture), biopharmaceutical and biotechnology.

One of the targets included in the document refers to the reduction of the tax rate on dividends from 16% to 5% starting January 1, 2017. However, the Agriculture Minister Daniel Constantin said on September 15 that Romania will cut the tax rate on dividends from 16% to 5% starting January 1, next year.

Another measure mentioned in the strategy is the reduction of the excise duties for alcohol and alcoholic beverages, starting January 1, next year, as well as for fuels, starting January 1, 2017.

editor@romania-insider.com