The flat tax and social contributions will not be modified until2013, the VAT level remains uncertain and the cut in salaries andnumber of employees will not be offset any sooner than 2013.
These are but some of the provisions of the budget-fiscal strategyfor the next three years endorsed by the Government on Wednesday,which also includes information on the trend of expenses ofministries from 2011 through 2013.
Tax consultants believe cannot talk about a real fiscal strategy,because its provisions are unlikely to stimulate investment andeliminate overtaxation of labour.
As for maintaining the income tax at 16%, the document thatMediafax obtained reveals that the medium-term collection trend isgenerated by the moderate growth of the gross average wage in syncwith productivity and collection from income tax will maintain at3.3%-3.4% of GDP in 2011-2013.
The fiscal strategy also reveals that the VAT trend will complywith Romania's commitments undertaken before the IMF, but does notspecify whether the new 24% level in place since July 1 remains inuse on medium term or not.
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