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Romania To Adopt Clawback Tax, Allot RON150M For Healthcare Next Week – PM

Romanian Prime Minister Emil Boc on Wednesday asked the new Health Minister, Ladislau Ritli, to present a bill on the clawback tax next week and complete the C2 list of generic drugs, after which the Government will allot the ministry 150 million lei (EUR35 million) from the reserve fund.
Romania To Adopt Clawback Tax, Allot RON150M For Healthcare Next Week - PM
Mediafaxfoto - MediafaxRadu Bostan
24 aug. 2011, 17:24, English

The Government must adopt the clawback tax bill and an order on the generic drugs, as per an agreement with the European Commission.

The clawback system was introduced in the fall of 2009 and required all drug producers selling on the Romanian market to contribute quarterly to the public healthcare system by 5%-11% of their revenue from the sale of products used by the national healthcare programs, included on the list of discounted/free medicine, or used in hospitals.

The Association of Romanian Producers of Generic Drugs has stated that the clawback tax is unfair, inefficient and ineffective.

Jeffrey Franks, head of the IMF agreement evaluation mission, has said the clawback tax should be replaced with a different taxation system.

(EUR1=RON4.2488)