Romania to Face Tax Hikes: Government Announces Urgent Measures

Romania Faces Inevitable Tax Hikes: Fiscal Council Head Warns of Urgent Measures Romania is bracing for significant tax increases, according to a recent report from Realitatea Plus. The head of the Fiscal Council has warned that the government must take immediate action to address the country's growing budget deficit. The proposed measures include substantial increases in taxes on salaries and a rise in the VAT rate. "The state must urgently introduce measures," the Fiscal Council head stated, highlighting the severity of the situation. The upcoming government is expected to implement these reforms, which are based on scenarios developed by the World Bank. These scenarios include not only tax increases but also a review of the tax base for various situations, including salaries. Specific details about the proposed tax increases are still emerging, but the video suggests a potential increase in VAT from 19% to 21%, and a rise in salary taxes from 10% to 14%. These changes are likely to have a significant impact on Romanian citizens and the economy. While the details of the fiscal reforms remain to be finalized, the warning from the Fiscal Council underscores the urgent need for action and the likelihood of increased tax burdens for Romanians in the near future.