Romania's tax plan for 2019 includes the introduction of a tax called "a tax on greed". It has already covered banks and is to be imposed on the largest telecommunications, energy, commercial and Next, also those in the gambling sector.
Romania is to include 2019 The Presidency in the EU, while at the same time pursuing the Union-contradictory vision of Liviu Dragne, president of the Social Democratic Party, the strongest group in the current government. "High taxation, legal uncertainty and self-government can lead to the withdrawal of foreign companies from Romania," said Sebastian Kurz, Austrian Chancellor, who to 31 December 2018 holds the Presidency of the Council of the EU.
After the Romanian tax plans were announced, Austrian Erste Bank and Raiffeisen Bank International shares fell. Erste Bank, which reaches 8.4% its revenues from Banca Comerciala Romana's largest Romanian bank, recorded a decrease in its shares by 10%. Raiffeisen Bank International, which has 6% assets in Romania, recorded a decrease by 3.5% Forecasts show that the already introduced bank tax will also negatively affect the earnings of the French bank Societe Generale.
It is worth noting that the tax on bank assets exists in various forms already in many European countries – Sweden, Austria, France, Hungary and Poland.
Author:
Katarzyna Kołbuś - Editor leading RB Magazine. From Over 10 years related to industry press, including the Financial Gazette and portal ipip.com.pl, which is devoted to finance, taxation, law, politics and the economy. She graduated from Polish philology at the UMCS and the language editing of the text at the University of Warsaw.