Romanian Social Democrats say anti-profit shifting tax "welcome, but not sufficient"

The interim president of the Social Democratic Party (PSD), Sorin Grindeanu, announced that he had a meeting with the minister of finance and that the new formula for taxing multinationals is "a necessary step, but not sufficient," Digi24 announced.

Grindeanu said that he agreed with minister Alexandru Nazare that additional measures, such as tripling the tax on large fortunes and increasing taxes on cryptocurrencies, will be analysed in the coming period.

"Today I had a first meeting with the minister of finance, Alexandru Nazare, during which we addressed the situation of public finances. We welcome the measure that provides for the blocking of the profit shifting by multinationals, as the first stage of a broader reform regarding a fair tax system. I believe it is a necessary step, but not sufficient. We must continue in this direction to reduce fiscal optimisations, so that the burden of austerity is not placed only on the shoulders of vulnerable people and the middle class," the PSD leader wrote on Facebook on August 13.

Grindeanu also reiterated his party's request for more funds for the public investment scheme Anghel Saligny.

"A vital point remains the continuation of major infrastructure projects and public investments through the Anghel Saligny National Program. The budget adjustment must take into account Romania's development needs," the social democrat leader also wrote, specifying that discussions with the minister of finance will continue in the coming period.

At the beginning of the week, on Monday, Sorin Grindeanu announced that his party would no longer participate in the meetings of the governing coalition until the government adopts a package of measures to eliminate privileges.

(Photo source: Inquam Photos/Pana Tudor)