Social Democrats outline proposed measures for Romania's second package of fiscal reforms

The interim president of the Social Democratic Party (PSD), Sorin Grindeanu, announced on July 23 that his party is coming up with proposals in the second package of fiscal reforms, such as the supplementary taxation of capital and wealthy individuals, as well as regulations regarding profit shifting, according to News.ro.

"This [profit shifting] must stop, it is an issue where I resonated very well with the Minister of Finance [Alexandru Nazare, Liberal Party] and I am glad about this, and he will tell you, I am convinced, he will detail that a department in the Ministry of Finance, which should have dealt with this, was almost depopulated. He did not even have any civil personnel in the tax collection agency ANAF to deal with this issue. This will stop, I am glad about Minister Nazare's approach", Grindeanu pointed out.

Previously, the interim PSD leader announced among the proposed measures a 0.5% turnover tax for all companies subject to profit taxation.

"The Social Democratic Party wants a higher taxation of capital and of the large fortunes, in order to balance the fiscal burden, which today is mostly placed on the poor and those with average incomes, and also the burden is placed on companies that pay their taxes on time, unlike other companies," Grindeanu said.

The interim president of the PSD also stated that they talked about the insolvency law, the increase in taxation on cryptocurrencies, in the coalition, and they want to be included in the second package of fiscal reforms.

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