Romania Cut Withholding Taxes
November 11, 1998 | By Keith Martin in Washington, DC
ROMANIA CUT WITHHOLDING TAXES in an effort to attract foreign investment. The new rates are 15% on royalties and payments for services and 10% on interest, except that interest received on deposits in Romanian banks is exempt. The government is also expected to eliminate a 1.5% charge on the price paid for securities in Romanian companies.