Ponta: Gov’t approves GEO on tax exemption on reinvested profit and eliminates 70 taxes

Gov’t at its Wednesday session will approve the Emergency Ordinance on the tax exemption on reinvested profit and elimination of more than 70 taxes, Prime Minister Victor Ponta made the announcement.

‘We have all the approvals that we need. Today we are adopting the Emergency Ordinance on the tax exemption on the reinvested profit, to be introduced as of July 1. This is an older request of the business environment and I am glad that we could do it,’ said the Prime Minister.

Victor Ponta asked the Ministers who received a note from the Ministry of Finance to begin the drafting of the normative acts necessary for the elimination of the 70 taxes.

‘We identified 70 taxes that can be eliminated in a single day, without the state budget to suffer at all, and without the need to burden people with 70 bureaucratic procedures and time wasted in vain. I believe, Mrs Minister (Ioana Petrescu, Minister of Finance — editor’s note), that you can still, besides these 70, eliminate an additional 30-40 taxes. I want you to come next week, based on what you will receive by then from the other ministries, with the necessary normative acts, so that we can make what we have been talking for so long, which is to eliminate those taxes that were introduced but are of no use for the budget, only causing a bureaucratic chaos,” the Prime Minister also said.

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