GOVERNMENT APPROVES FISCAL POLICY FOR 2025

On Monday, the government approved the fiscal policy for 2025. Finance Minister Petru Rotaru, who presented the draft, said the document takes into account the course of European integration, through the gradual adaptation of national legislation to that of Europe, as well as the preservation of fiscal instruments aimed at ensuring sustainable development of the economic, social and investment sectors.

The proposed actions do not assume a comprehensive intervention and in terms of effects, they focus mainly on technical or specific activities.

The proposed policies aim to: ensure the mobilisation of fiscal resources needed to finance the SDGs; introduce tax instruments aimed at attracting and retaining investment; review the mechanisms for calculating and paying taxes and fees to simplify economic activity; apply leverage to ensure social support through fiscal instruments; strengthen the capacity of tax and customs authorities by broadening the range of instruments; further convergence of national laws and regulations; and strengthen the capacity of tax and customs authorities by broadening the range of instruments.

It is planned to extend the powers of local governments to charge real estate tax and land tax (local governments will be able to increase it independently up to 300%).

The proposed measures also include a 10 percent increase in tax relief for citizens and the introduction of a “stock option plan” aimed at retaining employees in the workplace by providing them with the opportunity to participate in company shares.