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Thursday, March 10, 2005
Romania's flat tax rate of 16% on personal income and corporate profits, which went into effect on January 1, 2005, has proved to have a positive effect on Romanian salaries, which increased by 5.2% in the January 2005 in comparison to December 2004. The effect is even larger when compared to January 2004, with net wages increasing by 25.3% and gross wages increasing by 18.8%.
In January 2005, the gross (pre-tax) average monthly salary was 9,514,658 lei, while the net (after-tax) average monthly salary was 7,233,298, which is equal to roughly 200 euro or US$270.
Romania's flat tax system is one of the most liberal fiscal policies in Europe and was introduced in order to boost spending power and salaries, encourage foreign investment and greater consumer spending.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
