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Romanian PM Says Govt Will Pay Debts To German Cos, Keep 16% Flat Tax

Romanian Prime Minister Emil Boc told German Chancellor Angela Merkel Tuesday Romania will pay its debts to private companies and the government will continue to support investors by keeping the 16% flat tax, not taxing reinvested profit and developing public-private partnerships.
Romanian PM Says Govt Will Pay Debts To German Cos, Keep 16% Flat Tax
Oana Gavrila
12 oct. 2010, 12:01, English

„Romania will continue to promote three important measures to attract German investors: keeping the flat tax at 16%, not taxing reinvested profit and adopting the law regulating public-private partnerships, which will allow the development of major Romanian-German projects to modernize Romania’s infrastructure,” Boc said after talks with Merkel.

He added they discussed the possibility of extending bilateral cooperation in the fields of transport, tourism, agriculture and renewable energy.

„We’ve also touched on the fact that Romania is putting in every effort to pay its debts to private companies, including German ones, so as to avoid creating a block in the economy,” Boc added.

Merkel is on her second official visit to Romania Tuesday, as the two countries celebrate 130 years of diplomatic relations. The German Chancellor will also meet with President Traian Basescu and will visit the Babes-Bolyai University in Cluj-Napoca, where she will be awarded an honorary degree.