New government makes ambitious reform plan

摘要

Bank privatisations and stock market listings are on the new government's financial reform programme as it strengthens its bid for EU accession. Matei Paun reports from Bucharest Romania's new, reform-minded government wasted little time in adopting an aggressive set of tax reforms in the run-up to the new year. In effect, the country has joined the flat-tax bandwagon at a competitive level of 16%. Previously, rates on personal income tax were up to 40%, while corporate profit tax was set at 25%. Newly appointed prime minister Calin Popescu-Tariceanu promises that tax reform is just the first step in an ambitious programme that aims to make up for lost time in Romania's bid for EU accession. Reforming the judiciary and fighting high-level corruption are two other important objectives.