Romania’s Prime Minister has said that he hopes to have details ready on a planned tax break on reinvested profits in time for the next International Monetary Fund (IMF) visit to the country in April.
The Deputy Prime Minister and Finance Minister declared the exemption last month, in response to a request from the Businessmen’s Association of Romania, and it was discussed with the IMF during the body’s previous visit to the country.
The exemption is scheduled to begin from July 1, 2014. The tax revenue loss would be compensated by VAT payments on the extra purchases that would be made.