Romanian Government Softens Bank Tax, Disconnects It from Money Market Rates

Romanian Government Softens Bank Tax, Disconnects It from Money Market Rates

03.27.2019

Romania's government will lower the tax on banks' financial assets and decouple it from money market rates, according to a draft published late Tuesday that amends the controversial tax decree introduced in December 2018.

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Romanian Government Softens Bank Tax, Disconnects It from Money Market Rates Romanian Government Softens Bank Tax, Disconnects It from Money Market Rates

Romania's government will lower the tax on banks' financial assets and decouple it from money market rates, according to a draft

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Analysis

Central Bank: Banking Sector Has Limited Capacity to Sustain Current Profitability Long Term Central Bank: Banking Sector Has Limited Capacity to Sustain Current Profitability Long Term

The Romanian banking sector, which consists of 35 banks, in its present structure has a limited capacity to sustain the recent profitability over the long term, the central bank said in a report.