The tax for compensatory payments on individual work contract termination for management has recovered, for private sector, to 16%. After the publication, in Official Monitor no. 620/4.10.2013, of the law for approving Government Emergency Ordinance 55/2013, the provisions of Article II of the above emergency ordinance are repealed.
The Article II of GEO 55/2013 had specified a rate income tax of 85% for revenues, salaries / compensation / compensatory amounts at termination of employment of management. From now, the tax rate of 85% shall be applied only for to the amounts received by members of the Financial Supervision Authority Board.
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