Tax rates on individuals’ incomes to remain unchanged in 2012

The tax rates on the incomes of private individuals will not change in 2012 and will be 7% of the sums of up to 25 200 lei and 18% of the larger sums. The executive approved a bill with amendments to a number of legislative acts in its October 12 meeting, Info-Prim Neo reports. The personal annual exemptions next year will be raised to 8 640 lei. The taxes on the incomes of notaries, lawyers, bailiffs and mediators will also remain unchanged. The bill provides for maintaining the tax concessions granted to employees of companies focusing on the elaboration of programs for the IT sector. The trade unions’ proposal to set a tax of 25% on the incomes of individuals who earn yearly more than 120 000 lei wasn’t accepted. Minister of Finance Veaceslav Negruta said in this connection that a number of dangers are threatening the country’s economy, including foreign ones, and it is not opportune to make radical changes in times of crisis.

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