Pensions below 1,500 lei exempted from taxes as of 2010

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Pensions standing below the value of 1,500 lei will be exempted from taxes beginning, most probably, on January 1, 2010, Minister of Labour, Family and Social Protection (MMFPS) Marian Sarbu on Monday told a TV channel.

‘Pensions which value stands below 1,500 lei will be exempted from taxes, most probably beginning on January 1, 2010. The measure will be clearly stipulated in the new Fiscal Code,’ the head of the MMFPS said.

Referring to the single pay law, Sarbu said that the Labour Ministry had to work first on such measures that were ‘imposed to iť, following to take care of its ‘own measures’ later.

‘We have to observe certain principles established within the Coalition (ruling partnership between Democratic Liberal Party and Social Democratic Party). One of these principles says that nobody should suffer a major loss,’ the Labour Minister said.

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