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Romanian government backtracks from plan to tax companies’ turnover

Staff Writer |
Romanian Prime Minister Mihai Tudose said on Monday (17 July) his leftist-led government had scrapped a plan to tax companies’ turnover.

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It came after sharply negative market reaction and criticism from President Klaus Iohannis as well as local and foreign investors.

In late June, the ruling coalition had announced changes to major taxes due in 2018, including replacing a corporate flat tax of 16% on profit with a progressive tax on turnover.

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