Romanian Prime Minister: We're Going To Tax Your Planes, Boats, And Automobiles


Photo: AP

Romanian Prime Minister Emil Boc has announced his governments intention to tax individuals with wealth over €450,000 ($584,865) 1% in a targeted tax on the country’s elite, according to Ziarul Financiar.The tax is likely to include proposals from this year, which specified that a one’s wealth included other assets, such as their homes, land, planes, helicopters, and boats.

Individuals in Romania are reportedly already registering cars in Bulgaria in an attempt to avoid such taxes.

The country is in the midst of considering changes to its flat tax scheme.

The Romanian economy has been undergoing a dramatic slowdown as a result of the deleveraging process in the country due to what some call a “balance sheet recession.”

Check out the reality of this balance sheet recession >

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