Pillar fee, challenged by economists: « an aberration »

The tax on the pillar does not bring much money to the state budget, nor does it solve the budget imbalance and, in addition, it brings unnecessary stress to the Romanian business environment, given the customs duties it will face in the next period, considers Cristian Păun, a university professor of economy.

‘I consider the tax on the pillar an aberration which, in this context, has neither its place nor the meaning of the amount of money that it could bring to the state budget. This tax was applied in Romania, it did not bring almost money to the state budget or the amounts it brought were derisory. So, it does not make sense to stress the business environment with a pillar fee. If you are really worried about the situation of the business environment in Romania, as a result of the customs duties that will be facing in the next period, why do you have to come and stress it with other taxes? It’s a very bad idea. I would give up this fee, because it does not bring much money to the state budget, nor does it solve the budget imbalance and, in addition, it brings unnecessary stress and inappropriate to the Romanian business environment, « said Cristian Păun.

The government approved, in the meeting on Thursday, an emergency ordinance by which the regulations regarding the tax for special constructions were modified.

The Minister of Finance, Tanczos Barna, said that the emergency ordinance generates a revenue of over one billion lei, budgeted on the basis of the initial ordinance.

The US president announced a 20% customs duties for imported products from the European Union, 34% for China, 31% for Switzerland, 26% for India, 10% for the United Kingdom, 10% for Brazil. Donald Trump insisted that any product entering the US will be charged with at least 10%.

At the same time, the US president announced 46% customs duties for imported products from Vietnam, 49% for Cambodia, 37% for Bangladesh and 32% for Indonesia. Also, the customs duties for the imported products from China with another 34 percentage points were increased, after the previous 20%rates.