Government To Tax Banks If ROBOR Index Passes Certain Thresholds

Romanian Finance Minister Eugen Teodorovici announced on Tuesday that the Government intends to establish a “greed tax” for banks, which will be applied if the value of the three-month and six-month Romanian Interbank Offer Rate (ROBOR) indices passes 1.5%. "It is proposed that a duty be applied as of 1 January on the financial and banking institutions' assets, called the tax on greed, because it is the best expression for what is today ...

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