Income 
Employers in Romania to Withhold and Pay Social Contributions for Copyright Income
Romanian employers shall withhold, declare and calculate the pension insurance contribution and the contribution to the unemployment fund for their employees’ income from copyright, Labor Minister Ioan Botis said today. According to the decision of the Romanian Government, the new procedures will be applied starting Monday, September 13. The social security contributions will not be paid for employees who are constantly paid salaries and gain income from copyright occasionally. Also, social security contributions will be limited to five average gross salaries per year for people with no employment contract and who exclusively gain occasional income from copyright. Employees who are paid salaries and also gain income from copyright, on a regular basis, will pay social security contributions for the extra income, which will also be limited to five monthly average gross salaries. The companies must declare, calculate, withhold and pay individual social... citeste mai mult
Romania’s Finance Minister: Renegotiation Of Austerity Measures Would Be Wrong
Sebastian Vladescu, the Romanian Finance Minister, thinks that a renegotiation of the spending cut measures already agreed by the Romanian Government with the International Monetary Fund would be wrong. Romania authorities pledged to drastically cut spending to keep the budget deficit below 6.8% of the gross domestic product in 2010, from an initial target of 5.9% of GDP. Last week, Romania's President Traian Basescu announced several measures to cut public expenditure - such as the 25% reduction of all public wages, a 15% cut in pensions and social aids and freezing early retirements - and a few measures to extend the personal income taxation base - such as taxing food vouchers, capital gains and even the compensatory payments. In addition, the Government promised to cut the number of public employees by 70,000 this year, to 1.29 million. citeste mai mult
The Romanian banking system’s efficiency was smaller than in the region, in the first semester
In the first half of this year, the Romanian banking system, saw a fast cost rise. Therefore, at the end of June 2009, the income/costs report was larger in Romania than in Hungary or Poland. This is after, at the end of last year, the performance indicator was in line with the regional level. As a result, the Romanian banking system was characterized with a low level of efficiency in the first semester of this year. Data published by the National Bank of Romania has shown that, in June 2009, the report between the costs and the income of banks was 67.23%, where, in Hungary and Poland banks were recording a performance indicator of 52%, respectively 55%. Translated by: Tradu.org citeste mai mult
AIG Life doubled its profit
The company AIG Life Asigurari Romania ended the first semester of 2008 with businesses over 140 million lei in increase with 51% against 2007, the same period. In euro the volume of subscribed gross premiums increased to 38 million, in increase with 37%. The reported gross profit is of 24 million lei (7 million euro), representing the double of the recorded value in 2007, the same period. “The company touched the maturity level which allowed us to diversify the distribution methods, in the same time focusing on professionalizing the network of own consultants. Our plan was followed by letter also in what concerns the financial parameters of performance: incomes, expenses assets and profit”, Theodor Alexandrescu, general director of AIG Life explains. The life insurances market has also developed as a result of implementing the Second Pillar of private administrated compulsory pensions. This important factor has determined the Romanians to become aware of the... citeste mai mult
The food products put up the price over expectations
The incomes of the European farmers are less affected then the ones of the buyers from supermarket, and the selling prices of the food are much over the ones estimated by the European Commission one year ago. With a few exceptions, in most of the European Union states, the incomes of the farmers have increased in the period in which appeared the first signs of the cavalcade for the prices of food products. The Lithuanians farmers have earned on last year with about 40% more then in 2005, the Estonians with 22,5%, the Czechs with 20,9%, the Polish with 13,7% and the list can go one. Generally, the additional incomes have increased between 40% and 1,7%, with the exception of a few countries, among which Romania, in case in which the farmers were in lost. The Romanians and the Bulgarians have obtained the lowest incomes from the agricultural activities, their incomes being in 2007 with 6,7%, respective 8,5% lower against 2005. In what concerns the consumers of food products,... citeste mai mult
The fleet from the Black Sea much ado about nothing
According to the data supplied by the General Staff of the Fleet, in 2007, the unit contributed to the Ukraine’s budget with over 17 million dollar. In this sum there are also included the tax on incomes realized by natural persons, the profit tax, the value added tax, taxes for using the natural resources, custom tax and other payments. During the last years, the fleet budget was raised to about 232 million dollar. For its daily needs, the fleet staff buys from Ukraine the biggest part of the products – fuels and materials for maintenance of the fight technique, medicines, food, coal. “Just the fuel costs yearly about 16 million dollar, other six million go on food, and the same on medicine”, a representative of the Fleet, recently stated for the RIA Novosti press agency. In the Fleet units and enterprises work more then 20.000 citizens of Ukraine, which receive wages paid by Russia, significantly more raised that the regional average indexes, and which last... citeste mai mult
The budgetary incomes increase
The medium income of the employees from the budgetary area will increase this year with about 10%, increase that presumes a higher amount from the budget regarding last year of 1,3 billion lei, the amount of incomes fallowing to increase up to 27,75 billion lei. The income increases will be given on personal categories presuming a general indexation of 4,5% in April and an increase with 9,1% in October, according to some sources from the Labour Minister. The increase fallows to be settled by ordinance. citeste mai mult
