Finance Minister Sebastian Vladescu wants to bring more money tothe budget by extending the flat tax to all categories ofindividual incomes.
The finance minister wants a 16% tax to be levied on all categoriesof individual incomes, which include interest rates, stock exchangetransactions, and luncheon vouchers.
"I hope the 16% tax will be levied across the board," saidVladescu, in answer to a question by journalists.
He went before Parliament yesterday to be heard by the StandingBureau of the Senate, but, because of the plenary vote on the "ANIlaw", the hearing on commitments to the IMF was put off.
Last year profits made from stock exchange investments and frominvestments in mutual funds were not taxed, as a result of ameasure taken by the Tariceanu Government to support the capitalmarket, which suffered massive losses due to the financial crisis.The tax on profits from stock exchange investments was introducedin 2006, when the Finance Minister was also SebastianVladescu.
Individuals were also exempt from payment of tax on interest earnedfor term deposits. Up until last year, incomes from sight depositsand from current accounts were deemed non-taxable by the FiscalCode. Under the circumstances, the individual clients preferred toplace their disposable income in savings accounts, attracted by thefact that although the interest rate on these products was slightlylower than in the case of term deposits, it was not subject to a16% tax.
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